National Trade Blueprint

40 National Trade Blueprint Facilitating and Widening Market Access Thrust 5: 8 Strategic Thrusts Objective / Pain points Encourage the use of trading houses. Provide access of specialist advice and support via Go- to-Market companies to help businesses in exporting. Key Stakeholders: MITI (Lead), MATRADE, chambers of commerce, industry associations Implementation timeline : Short-term (continuous effort) Action plans 1. Establish database for registered trading houses a) Creation of database of existing trading houses to address immediate problems to enable quick identification and allow exporters to filter through trading houses according to their requirements. 2. Industry and trade associations to link SMEs with trading houses through business matching exercises a) Industry and trade associations can work with trading houses to promote sector specific business matching. b) Members of associations can pool resources to gain scale and work with trading houses. 3. Facilitate exporters to work with GTM companies to obtain market intelligence a) Develop a panel of market entry specialist. b) Promote adoption of available funds to support exporters in commissioning market entry research. Objective / Pain points Provide financing to target buyers, to encourage them to source goods from Malaysia. Key Stakeholders: MITI/MATRADE (Lead), EXIM Bank Implementation timeline: Long-term Action plans 1. Identify buyer needs and procurement history a) Collaborate with relevant stakeholders to perform creditworthiness checks and due diligence on buyers to mitigate payment risks. 2. Raise the profile of Malaysian exporters and provide information on Malaysian supply capabilities to the buyer 3. Arrange for business matchmaking and ensure a recurring relationship with the borrower on new opportunities Promote the use of trading houses to pool resources and Go-to-Market (GTM) companies to provide market intelligence for the exporters 5.2 Adoption of pull-strategy to encourage buyer’s sourcing from Malaysia 5.3 Objective / Pain points Further improve the Market Development Grant. Key Stakeholders: MITI/MATRADE Implementation timeline: Short-term Action plans 1. Enhance the flexibility in market development grant a) Flexibility should be given to exporters who would like to utilise funding for additional product listing in specific markets. 2. Expand MDG to other areas which are not covered and are deemed important a) These include support for international branding efforts, marketing, IP rights protection, digital marketing and certification. Increase the allocation for Market Development Grant (MDG) and improve the structure of grant incentives 5.4