MATRADE and Amazon Global Sign MoU to Boost Malaysian Brand Owners Cross-Border E-Commerce Transactions
FRIDAY, 14 JUNE 2024, SINGAPORE: The Malaysia External Trade Development Corporation (MATRADE) has signed a Memorandum of Understanding (MoU) with Amazon Global Selling to boost Malaysian brand owners cross-border e-Commerce transactions and to support their growth through training workshops.
The MoU will also see Malaysian SMEs be equipped with the necessary knowledge and resources to expand their presence on Amazon’s e-Stores and grow their brands in the United States (US). The MoU exchange was witnessed by Malaysia's Minister of Investment, Trade and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Aziz.
The collaboration will strengthen MATRADE and Amazon’s efforts to help Malaysia brand owners and sellers seize cross-border business opportunities on the global stage. The number of new Malaysia sellers exporting their products with Amazon Global Selling nearly doubled in the January-April 2024 period compared to the same period the year before.
The MoU exchange was in conjunction with the opening of MATRADE’s new Trade Office in Singapore, the latest addition to MATRADE’s global network of offices located in strategic cities to drive trade growth and expand market access for Malaysia.
MATRADE’s Trade Office in Singapore also reflects the strategic Malaysia-Singapore partnership. By leveraging the Republic’s robust infrastructure and ecosystem, Malaysia aims to enhance trade relations with the dynamic market of Singapore as well as the broader ASEAN region.
The new office was launched by Tengku Datuk Seri Utama Zafrul Aziz, who was accompanied by MATRADE Chairman Dato’ Seri Reezal Merican Naina Merican and Chief Executive Officer Datuk Mohd Mustafa Abdul Aziz.
Tengku Datuk Seri Zafrul said, “MATRADE Singapore Trade office represents significant and tangible opportunities for both Malaysian and Singaporean businesses. Apart from its vital role in connecting businesses from both countries, it will also enable Malaysian companies to leverage the existence of International Procurement Centres (IPC) and be part of the larger regional supply chains. As such, this new MATRADE office symbolises our dedication to harnessing the boundless potential of the ASEAN economic community, to generate more intra-ASEAN trade and investment flows within the region.”
“We also commend the initiative between MATRADE and Amazon Global Selling to help develop Malaysian brand owners’ business. This is crucial to help more SMEs expand beyond their current markets, while ensuring inclusivity, so that the region’s economic growth can also be enjoyed by the smaller businesses.”
Echoing the sentiment, Dato' Seri Reezal Merican said the opening of MATRADE Singapore indeed stands as a resolute testament to our unwavering commitment to fostering stronger ties, promoting mutual prosperity.
The launch of MATRADE Singapore marks a significant milestone in MATRADE's global expansion strategy, following recent enhancements to its network of overseas offices including in key locations such as Paris and Cairo.
Datuk Mohd Mustafa Abdul Aziz highlighted that the opening of MATRADE Office in the City State is timely as Malaysia and Singapore are both partners in the most recently implemented multilateral FTAs namely the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) with the latter being the world’s largest FTA.
He added that the office is also poised to support Malaysian businesses to engage with Singapore's global network, amplifying Malaysia's trade and investment prospects on a broader scale.
In 2023, Singapore emerged as Malaysia's largest trading partner within ASEAN, accounting for 13.8% share of its total trade, amounting to USD79.6 billion.
Meanwhile, Malaysia was among Singapore's top 5 trading partners and source of imports in year 2023, implying the inevitable economic interdependency between the two nations.
With the launch of MATRADE Singapore, the Malaysia’s national trade promotion agency now has its services widely covering the global market through its 49-strong offices. For more details, please contact MATRADE Singapore at Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya.
