MALAYSIA’s exports are expected to decline by 3.5% this year compared with a 1.7% growth last year in 2019, Malaysia External Trade Development Corporation (Matrade) said today.

Chief executive officer Wan Latiff Wan Musa said in the first six months of this year, Malaysia’s exports declined by 6.8% due to the movement control order (MCO).

“This was because of the MCO in Malaysia, lockdowns all over the world, and disruption in the global supply chain, people are not travelling and definitely world trade would be affected,” he told reporters at the #MyAPEC2020 Exhibition virtual exhibition launch here today.

“We are confident that the worst is over barring unforeseen circumstances (such as new) Covid-19 outbreak clusters,” said Wan Latiff.

“We are seeing an upward momentum trend starting from June 2020, as exports for the month increased 8.8% after two consecutive months of decline in April and May of 23% and 25%, respectively

“But I believe it won’t be able to match the level that we saw last year, if we’re talking about projection, (it is) still a decline of 3.5% compared to (1.7% growth) last year,” said Wan Latiff.

The International Trade and Industry Ministry, through its agency, Matrade, is launching a virtual exhibition called #MyAPEC2020 Exhibition, scheduled for September 1 to December 31, in conjunction with Malaysia hosting the Asia-Pacific Economic Cooperation (Apec) summit.

The launch also witnessed Matrade exchanging a memorandum of understanding (MoU) with Fusionex, the official technology partner for the exhibition.

Launched by Deputy International Trade and Industry Minister Lim Ban Hong, the exhibition is the first of its kind in Malaysia.

It will showcase the products and services of more than 300 exhibitors from Malaysia and other Apec economies.

The participants are from eight sectors –  technology; innovative food and beverages and agrofood; green tech and energy; healthcare; professional and business services; transport and logistics; lifestyle; and building materials.

The event will also feature an immersive business platform that includes business pitching, where participants will conduct live pitching sessions and enjoy real-time interactive communication; virtual business-to-business meetings, matching and arranging meetings for exhibitors with foreign buyers; as well as webinars – broadcasting of live presentations covering various topics that provide insights and current information of export opportunities..

The exhibition, which goes live starting from Sept 1, 2020, can be accessed through myapec2020.Matrade.gov.my or via the APEC portal and Matrade website.

Malaysian companies wishing to participate should contact the secretariat at [email protected].

For information about Apec 2020, go to www.myapec2020.my. – Bernama, August 26, 2020.