Malaysia External Trade Development Corporation

KUALA LUMPUR, 27 June 2024, THURSDAY – The Malaysia External Trade Development Corporation (MATRADE) and Deloitte today signed a Memorandum of Understanding (MoU) to jointly drive the New Industrial Master Plan 2030 (NIMP 2030) through a series of technology-led initiatives. This strategic collaboration aims to support MATRADE’s transformation initiatives by leveraging Deloitte’s global network and expertise while empowering local economies through specialised, customisable capability development programmes to elevate Malaysia’s economic standing by 2030.

In line with the MADANI framework, both parties are looking at leveraging revolutionary technologies, advocating the adoption of GenAI and other advanced innovations among local businesses, especially exporters, to further enhance the country’s international trade industry and bolster Malaysia’s economy.

YB Dato’ Seri Reezal Merican Naina Merican, Chairman of MATRADE, said, “We are thrilled to partner with Deloitte in this strategic initiative. This collaboration is a testament to our commitment to empowering Malaysian exporters and enhancing our nation's global trade capabilities. By combining our strengths, we aim to create a thriving export ecosystem that benefits all stakeholders and drives sustainable economic growth. Our collaboration with Deloitte does not only support the MADANI framework but also aligns with the Prime Minister's vision of integrating AI and advanced technologies into our economy towards realising NIMP 2030. Working with industry and global players like Deloitte strengthens MATRADE’s role as the enabler by harnessing these technologies effectively, ensuring Malaysia’s competitiveness on the world stage.”

YBhg. Datuk Mohd Mustafa Abdul Aziz, CEO of MATRADE, emphasised “Digitalisation has been one of MATRADE’s key agendas, in line with NIMP 2030 and National Trade Blueprint (NTBp). The strategic collaboration with Deloitte will strengthen and develop trade promotion cooperation, by focusing on three (3) areas – co-creating specialised go-to-market programmes, enhancing capabilities for Malaysian exporters, and innovating data analytics along with generative AI applications. The inculcation of innovation and advanced technologies is part of MATRADE’s energetic reform and aggressive transformation towards becoming a dynamic organisation, in accordance with the vision of YAB Prime Minister. Our goal is to create a forward-thinking ecosystem that supports sustainable growth, ensuring every stakeholder benefits from Malaysia's progress in the international market.”

Driving economic opportunities and nurturing talent

Designed to stimulate Malaysian economy through public and private partnerships across Malaysia, MATRADE and Deloitte will be co-creating specialised programmes which aim to identify and nurture high-potential sectors, facilitate market access, and provide tailored support to businesses. This strategic partnership will merge MATRADE’s comprehensive understanding of international markets, and Deloitte’s global expertise in consulting, audit, tax, and advisory services, to create economic opportunities for Malaysian businesses, particularly small and medium-sized enterprises (SMEs) and mid-tier companies (MTCs).

Azhar Hussin, Deloitte Malaysia’s Technology & Transformation Leader said, “We are excited do our part in driving Malaysia's vision with our ‘Global Thinking, Local Delivery’ approach. By tailoring our global expertise to a local context, we can deliver customised solutions that address the unique challenges and opportunities which Malaysian exporters are facing today. This partnership is about more than just technology and strategy; it’s about empowering local businesses to thrive in the global marketplace while furthering Malaysia’s values and national goals.”

Capability Building through Academy and Training Programmes

Recognising the critical importance of capability building, a training academy for comprehensive and specialised programmes will be established. This initiative will be tailored to meet the current and prospective needs of Malaysian exporters across different industries, such as international market entry strategies, compliance with global tax and trade regulations, requirements of Global Value Chain (GVC), and effective export management practices. These programmes aim to equip participants with the tools and insights necessary to expertly navigate the complexities of international trade in Malaysia.

Mr Yee Wing Peng, Country Managing Partner, Deloitte Malaysia, commented, “Last year, we celebrated the success of our high-performing MTCs during the ninth iteration of the Mid-Tier Companies Development Programme (MTCDP). Today, we are excited to continue our commitment to fostering public-private partnerships by driving meaningful economic growth and innovation through this collaboration with MATRADE, to offer comprehensive solutions that not only address immediate needs but also pave the way for sustainable and inclusive progress in Malaysia’s economy.”

Harnessing the usage of data, analytics, and GenAI

In an era where technology is a key driver of competitive advantage, MATRADE and Deloitte will jointly explore the potential of data, analytics, and GenAI to benefit both MATRADE and Malaysian exporters. This collaboration will involve MATRADE leveraging the GenAI engine developed by Deloitte AI & Innovation Centre of Excellence (COE) based in Malaysia, industry’s best practices, to foster a culture of innovation, utilising advanced data analytics to generate actionable insights. By integrating GenAI, the partnership aims to enhance decision-making processes, optimise trade strategies, and unlock new growth opportunities for Malaysian businesses.