A digitally vibrant nation MATRADE and Fusionex unveil revolutionary digital trade platform to boost Malaysian exports
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Technology
@ Halal | JULY-AUGUST . 2023
A digitally vibrant nation MATRADE and Fusionex unveil revolutionary digital trade platform to boost Malaysian exports
INTERNATIONAL TRADE has been and continues to be the nation ’ s lifeblood and a significant component of Malaysia ’ s GDP growth . One key focus area that the New Industrial Master Plan 2030 ( NIMP2030 ) Task Force , which will be launched by the Ministry of Investment , Trade & Industry ( MITI ) in August , is seriously looking at to help Malaysia achieve better economic complexity is to make the country a digitally vibrant nation . In line with this mission , MITI ’ s agencies execute various initiatives to tech-enable Malaysian businesses and exporters .
On June 13 , 2023 , Malaysia External Trade Development Corporation ( MATRADE ) and multi-award-winning data technology market leader Fusionex Group officially unveiled a revolutionary MATRADE Digital Trade Platform ( MDTP ). This AI-powered trade platform aims to maximise Malaysia ’ s export potential and assist local SMEs in expanding their businesses globally .
MDTP was launched by MITI Minister Senator Tengku Datuk Seri Utama Zafrul Aziz at the Malaysia International Trade and Exhibition Centre ( MITEC ).
“ MDTP was developed in collaboration with Fusionex , a data technology provider specialising in Analytics , Big Data , Machine Learning and AI . Data is , indeed , the new oil . In a world of structured and unstructured data , MDTP has been conceptualised to help bridge the gap between technology , data and businesses , including SMEs ,” shared Zafrul .
Tengku Zafrul Aziz .
Dato ' Sri Reezal Merican Naina Merican .
COMPREHENSIVE DIGITAL SOLUTIONS
With data and insights , plus a comprehensive range of digital solutions and services , Zafrul said there would be less guesswork and a lot more certainty to help businesses prepare for their next steps , making them fully equipped to propel themselves onto the global stage or keep improving their international export endeavours .
MDTP not only expands Malaysian businesses ’ market reach and connects them to global buyers but the businesses are also poised to prosper in the digital economy by : 1 . Benefiting from a combination of MATRADE ’ s expertise , knowledge , resources , global networks and Fusionex ’ s leading-edge technologies , intelligent tools and technical knowledge , all in a single platform .
2 . Utilising a B2B e-commerce-enablement system that offers innovative solutions such as the MATRADE Virtual Engagement platform , MATRADE Marketplace , Marketplace Aggregator and link to the Fusionex Digital Trade Hub .
3 . Having first-hand access to the latest market insights and trends powered by AI and the latest technologies to capitalise on collaborative opportunities for boosting export revenue growth globally .
4 . Access to a centralised , data-driven platform for connecting with potential buyers ; exporting goods and services ; showcasing offerings during virtual or hybrid events , and simplifying complex trade procedures . “ In short , this platform is not only a digitalisation enabler to benefit businesses and exporters , but it also represents a new chapter in Malaysia ’ s trade promotion efforts , powered by AI and technology to help strengthen Malaysia ’ s position as a global trading nation .
“ I understand that MDTP has already onboarded international players from countries such as China , the US , the UK , Saudi Arabia , India , Dubai , and players from every ASEAN member state . That is a laudable achievement , and I look forward to seeing even more encouraging achievements by MATRADE and Fusionex through MDTP ,” said Zafrul .
EMBRACING PUBLIC-PRIVATE PARTNERSHIP
MATRADE Chairman Dato ’ Sri Reezal Merican Naina Merican , during his welcoming remarks , said MDTP was a perfect response to the evolving demands of this digital era . He stated that MATRADE acknowledged the increasing needs and the growing importance of digitalisation and its transformative power , particularly its ability to transcend geographical boundaries and reshape the landscape of international commerce and how businesses are conducted across borders .
“ Through this strategic partnership , MATRADE ’ s 30 years of experience , knowledge , and resources are consolidated , shared and presented to our stakeholders in a single , centralised and interactive platform – the MDTP .
“ With this digital gateway as a catalyst , our mission of positioning ‘ Made-in-Malaysia ’ as a beacon of excellence , reliability and trustworthiness on the global stage has become
Dato ' Seri Ivan Teh .
more apparent to the international business community . Through MDTP , Malaysian enterprises can capitalise on the advantages of digitalisation in the ultra-competitive international trade space , forging a path of unprecedented success and prosperity for our beloved nation ,” Reezal elaborated .
MATRADE CEO Datuk Mohd Mustafa said the agency would continuously embrace the public-private partnership ( PPP ) in driving Malaysian exports to remain relevant and competitive globally .
Dato ’ Seri Ivan Teh , Fusionex Group CEO , stated that the group was delighted to join forces with MATRADE as this collaboration highlighted the strength of strategic partnerships in accelerating and boosting international trade for Malaysian businesses . This centralised interactive platform levels the playing field , allowing businesses and service providers to trade with global buyers .
At present , MDTP has more than 1,200 members enrolled on the digital platform , and this figure is anticipated to surge , driving the platform ’ s growth . MDTP has also formed strategic partnerships with key Southeast Asian markets , associations , state governments , international marketplaces and leading financial , insurance and logistics partners to empower MDTP members to explore global trade opportunities . –