Call for Action Webinar: Remain Relevant with ESG or Exit US Market
KUALA LUMPUR, 4 NOVEMBER 2024 (MONDAY) - The Malaysia External Trade Development Corporation (MATRADE), as a national trade promotion agency, plays a vital role in supporting Malaysia in meeting international standards, regulations, and Environmental, Social and Governance (ESG) requirements to remain relevant in the global supply chain, especially in the United States (US) market, one of Malaysia’s biggest trading partners.
In 2023, Malaysia’s exports to the US amounted to RM161.3 billion with key exports including electrical and electronic products, machinery, appliances, rubber products, and furniture. The electronics sector, particularly semiconductors, is crucial to Malaysia’s within global electronics supply chain. As global markets, especially the US, emphasise on sustainability and responsible sourcing, ESG standards are increasingly influencing trade practices. Malaysian exporters must embark on their ESG journey to comply with these regulations to remain competitive and sustain market access.
As a continuous effort to empower Malaysian exporters to be ESG-ready, MATRADE is pleased to organise an action-oriented webinar titled "Remain Relevant with ESG or Exit US Market" scheduled for 13 November 2024.
Through this webinar, Malaysian exporters will gain valuable insights into how evolving ESG standards and regulations are crucial to the US market in international trade. Participants will gain expert guidance on adapting to these changes, equipping them with practical strategies to stay competitive and relevant in the US market. With growing pressure from the US regulators, investors and consumers to adhere to strict ESG standards, this webinar is designed to address the key challenges and opportunities facing Malaysian businesses exporting to the US.
Industry experts from the American Malaysian Chamber of Commerce (AMCHAM Malaysia), Responsible Business Alliance (RBA) and Control Union Malaysia will cover a range of topics. These will include action plans and strategies to participate in U.S. Global Value Chains, addressing force labour issues and compliance with US ESG requirements, overcoming barriers related to labour standards and the role of ESG certifications in establishing credibility and gaining a competitive edge in the US market. Besides that, Kian Group of Companies, a successful Malaysian furniture exporter, will share the journey of integrating ESG principles into their business model to penetrate and thrive in the US market. This case study aims to inspire other Malaysian exporters to adopt ESG strategies for market penetration and relevance.
Compliance with ESG standards can enhance market access for Malaysian companies by aligning them with international investment and regulatory standards. By adopting ESG principles, Malaysian businesses demonstrate a commitment to sustainable and ethical practices, which are increasingly important to global investors and trade partners. This alignment not only boosts the reputation of Malaysian companies but also improves access to new markets where ESG compliance is essential. In a competitive global market, ESG-aligned Malaysian companies are well-positioned to attract capital, enter new regions and meet the expectations of socially conscious consumers and partners.
MATRADE aspires that this webinar will offer an unparalleled opportunity for Malaysian exporters to stay informed, address pressing challenges and leverage ESG as a tool for growth and sustainability. Participation is open to all industry stakeholders, especially Malaysian exporters, sustainability officers, and trade professionals looking to penetrate and create a trade success story in the US market. Interested Malaysian exporters can register here (www.webinaresgmatrade.com) to participate in this webinar.
For more information about the webinar, please reach out to the project officer for this webinar, Mr. Muhammad Hussein bin Abdullah (Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya.).
