KUALA LUMPUR: Malaysia External Trade Development Corp (Matrade) invites mid-tier companies (MTCs) to further raise their competitiveness and export more of their products and services, particularly in the agricultural sector.
Matrade deputy chief executive officer Sharimahton Mat Salleh said although MTCs made up only one per cent of business establishments in the country, they accounted for a third of Malaysia's RM1.35 trillion economy and employed 22 per cent of the workforce.
"Matrade is calling for more Malaysian MTCs, particularly the youth-owned and agriculture-based, to be export champions," she told reporters after the 'Empowering Young Minds' forum organised by the Malaysian Consortium of Mid-Tier Companies here today.
Also present at the event was Agriculture and Agro-Based Industry Minister Salahuddin Ayub.
Sharimahton said local MTCs can prepare themselves for international trade by participating in exporters development programmes such as Matrade's Mid-Tier Companies Development Programme (MTCDP).
"MTCs can participate in Matrade's export promotion initiatives. We see a lot of potential for agri-businesses to succeed in the global scene. Clarity in the value proposition is vital in establishing sustained business," she added.
The MTCDP is a high-impact, 9-month customised programme for MTCs with an annual revenue of between RM50 million-RM500 million in the manufacturing sector and RM20 million-RM500 million for the services sector.
Sharimahton said from 2014 to 2017, the MTCDP had assisted 173 MTCs from electrical and electronics (E&E), food and beverages (F&B), building materials and construction, automotive parts and components and plastic sectors.
"The E&E, F&B and manufacturing sectors are expected to thrive," she added.
In 2017, MTCs had entered 18 new markets through the MTCDP. They included the US, Australia, Saudi Arabia, Vietnam, Indonesia and Myanmar.