Malaysia External Trade Development Corporation

KUALA LUMPUR, 24 OCTOBER 2025 (FRIDAY): Malaysia External Trade Development Corporation (MATRADE) and The General Directorate for Exports Promotion of Chile (ProChile) have taken a significant step toward strengthening economic ties with the signing of a Memorandum of Understanding (MoU) at Menara MATRADE.

The MoU marks a milestone in Malaysia-Chile bilateral relations, providing a strategic framework for promoting trade and fostering economic collaboration. Leveraging the strengths of both MATRADE and ProChile, this partnership aims to unlock new business opportunities, enhance economic resilience and accelerate bilateral trade growth.

As the national trade promotion agencies of their respective countries, MATRADE and ProChile share a common mission of supporting businesses in expanding their global reach. ProChile plays a pivotal role in promoting Chile’s trade and investment sectors, serving as a vital link between Chilean enterprises and international markets. Meanwhile, MATRADE is committed to advancing the global footprint of Malaysian exporters and fostering sustainable trade partnerships worldwide.

The MoU will also further deepen collaboration in trade promotion and development between the two organisations. These include the exchange of trade information to benefit the business communities of both nations, organising joint trade promotion activities such as trade fairs, seminars & missions, facilitating exchange visits and sharing experiences in the area of capacity building in trade promotion activities with a view to enhancing the competitiveness and competencies of Malaysian and Chilean companies.

According to MATRADE Chairman, YB Dato’ Seri Reezal Merican Naina Merican, the signing of the MoU represents a major milestone in MATRADE’s ongoing efforts to strengthen strategic partnerships, particularly with key stakeholders across Latin American countries, which aligns with the organisation’s diversification strategy. “This initiative is in line with the objectives of the Malaysia–Chile Free Trade Agreement (MCFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),” he added.

Chile remains a key trading partner for Malaysia within Latin America, ranking as Malaysia’s 7th largest trading partner, 4th largest export destination, and 7th largest import source in the region.

The bilateral trade between Malaysia and Chile continues to show positive momentum. From January to September 2025, total trade rose by 3.5% to RM1.55 billion (USD359.8 billion) compared to RM1.49 billion (USD323 million) recorded during the same period last year. Malaysia’s exports to Chile increased by 16.6% to RM621.6 million (USD143.2 million) while imports from Chile declined by 3.8% to RM929.4 million (USD216.6 million).

Malaysia’s major exports to Chile during this period included chemicals and chemical products, palm oil-based manufactured goods, other manufactured items (such as toys and games), palm oil and palm oil-based agricultural products, as well as electrical and electronic products. Meanwhile, key imports from Chile comprised metalliferous ores and metal scrap, metal manufactures, other agricultural products (including live animals and meat), seafood (fresh, chilled, or frozen), and sawn timber and mouldings.

MATRADE Chief Executive Officer, Dato’ Sri Mohd Mustafa Abdul Aziz, said, “Establishing a foothold in Chile will not only provide Malaysian exporters with direct access to the Chilean market, but also serve as a strategic gateway to the wider Latin American region. The MoU will unlock significant opportunities for market expansion and foster deeper trade engagement across multiple economies.”

MATRADE remains committed to supporting Malaysian exporters and promoting Malaysia’s dynamic trade sector. Malaysian companies looking to explore opportunities in the Chilean market are encouraged to contact MATRADE Santiago via email (This email address is being protected from spambots. You need JavaScript enabled to view it.).