Sarawak SMEs Yet To Fully Tap Matrade Incentives

MIRI, March 18 (Bernama) -- Sarawak's small and medium enterprises (SMEs) have yet to fully tap the various incentives to develop their export market provided by the Malaysia External Trade Development Corporation (Matrade).

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=935148
Published: March 19, 2013

International Trade and Industry Deputy Minister Datuk Jacob Dungau Sagan said one incentive available for SMEs in Sarawak is the Market Development Grant (MDG) of up to RM100,000 for a company to develop its export products.

"Last year RM27.68 million was disbursed under this scheme and 1,941 companies benefited from it, however only 22 or 1.13 percent of these companies were from Sarawak," he said at the Go Global@Matrade here today.

He said Matrade provides such grants to assist SMEs to defray the promotional costs of expanding their overseas markets.

In addition, he said, Matrade's Incoming Buying Mission (IBM) programme reduces SMEs' costs of travelling overseas to meet buyers.

"For example, in conjunction with major events like MIHAS 2O13 and INTRADE 2013, Matrade will bear the cost of bringing in potential buyers and arrange for them to meet Malaysian suppliers," he said.

He said only 336 SMEs in Sarawak have registered with Matrade so far, and urged those that have yet to register to quickly do so in order to have direct access to the latest market information.

"This year Matrade will be undertaking 136 trade promotion activities," he said adding that these activities serve little purpose if SMEs do not actively participate.

He said China remained Malaysia's largest trading partner last year with trade rising eight per cent to RM180.61 billion: imports increased by 21.3 per cent to RM91.86 billion, although exports declined by 3.1 per cent to RM88.75 billion.

Jacob said many Sarawak SMEs have yet to apply for the various incentives due mainly to their limited number of products for the global market, adding Matrade is willing to give training to SMEs intending to venture overseas.

-- BERNAMA