Image credit: Niaga Times
The Malaysia External Trade Development Corporation (MATRADE) recently launched the MADANI Digital Trade (MDT) – an integrated first-of-its-kind virtual showcase that seamlessly integrates business matching, an e-marketplace, market intelligence and trade-related business solutions.
The platform aims to revolutionise the way Malaysian exporters and SMEs connect with international markets, equipping them with tools and insights needed to thrive in the global marketplace.
MATRADE chairman Datuk Seri Reezal Merican Naina Merican said that the MDT allow its users to grow, scale and succeed in an increasingly competitive digital economy.
Meanwhile, its chief executive officer Datuk Mohd Mustafa Abdul Aziz said, “By leveraging cutting-edge technology, we are enabling Malaysian businesses to adapt to the demands of the global market. This initiative reflects MATRADE’s commitment to fostering digital trade and equipping our businesses with the right tools to excel internationally.”
Direct Selling Industry Hits RM34.4 Bil
At the same time, the country’s direct selling industry grew 7.4% to RM34.4 billion in 2024 from RM32.04 billion the previous year, maintaining its position as the world’s sixth- and fourth-largest in Asia Pacific from 2020 to 2024, respectively, according to a report by the World Federation of Direct Selling Associations (WFDSA).
“Malaysia also recorded the highest market penetration globally, ranking first with a penetration rate of 2.28%, elevating the country’s direct selling industry to a level comparable to developed markets such as the US, South Korea, Germany, China and Japan,” said Domestic Trade and Cost of Living (KPDN) Deputy Minister Fuziah Salleh in a statement that was issued in conjunction with the presentation of direct selling licenses to 45 companies, comprising 18 new licensees and 27 renewals.
“The amendments aim to foster a more comprehensive, sustainable and ethical direct selling ecosystem, reflecting KPDN’s commitment to developing and expanding the sector in line with the government’s MADANI Malaysia concept, which seeks to strengthen national prosperity and ensure equitable distribution across all levels of society,” she added.
Fusiah also mentioned that the ministry remains committed to ensuring all direct selling companies comply with legal and regulatory requirements.
“Through the issuance of direct selling licenses, we hope all industry players will uphold integrity, operate with transparency and prioritise consumer rights.
“The government remains optimistic that the industry will continue to grow holistically, create business opportunities, boost household incomes and contribute positively to Malaysia’s socio-economic development,” she said.
Source: https://sme.asia/madani-digital-trade-to-connect-malaysian-businesses-globally/