47 MATRADE Core Objectives MATRADE Annual Report 2022 The TIM to the US, led by the MITI Senior Minister, took place from May 9 to May 18, 2022. and was organised in accordance with SOPs and guidelines of the visited country. The main objective of this mission was to further strengthen bilateral trade and investment relations between Malaysia and the US by discussing the following issues: 1. Cooperation on environmental, social, and governance (ESG) initiatives. 2. Issues related to supply chains and innovative, high-valueadded sectors, particularly that of the semiconductor industry, digital economy, and the medical devices sector. This TIM aligns with the National Investment Aspirations (NIA), which focuses on high-quality investments involving the latest technology. During the mission, several bilateral meetings were held, including those with: 3. Madam Gina M. Raimondo, Secretary of Commerce of the United States. 4. Madam Katherine Tai, United States Trade Representative. 5. Mr. Muhammad Lutf, Minister of Trade of the Republic of Indonesia. IThe meetings involved exchanging views and exploring cooperation opportunities within the Indo-Pacific Economic Framework (IPEF), and addressing issues within the global supply chain, labour, and industrial development. The meetings placed Malaysia as a strategic country for the US within the ASEAN and Asia-Pacific regions. During the meeting with Secretary Gina M. Raimondo, a roundtable session with US semiconductor industry players was held to discuss investments. The session was crucial in enhancing the commitment of potential buyers and Malaysian suppliers of products and services. Trade and Investment Mission to the United States The United States (Washington DC, San Francisco, Seattle and Los Angeles) 9-18 May 2022 MATRADE organised one-on-one meetings with four (4) importing companies, aimed at increasing trade volume in the green energy (solar panels), lifestyle (wooden furniture), and rubber-based products (disposable gloves for examination and surgery) sectors. The meetings resulted in the commitment of importing companies to increase future demand and expand the sourcing of their products and services from Malaysian suppliers.In addition, an MoC to establish a sustainable semiconductor supply chain was signed by the two governments. The TIM acts as a catalyst for bilateral trade and investment, increasing confidence in Malaysia’s capabilities. Malaysia continues to be a competitive trading partner and dynamic regional investment destination for the US.
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