Matrade’s Digital Trade Platform Surpasses RM100M Revenue in Its First Year
KUALA LUMPUR (June 13) — Malaysia External Trade Development Corporation (Matrade) has exceeded its revenue target, achieving RM100 million through its Digital Trade Platform (MDTP) in just one year since its launch.
A Significant Milestone for MDTP
The AI-powered platform, developed in partnership with Fusionex Group, was designed to maximize Malaysia’s export potential and help local micro, small, and medium enterprises (MSMEs) grow their businesses internationally. Fusionex CEO Datuk Seri Ivan Teh revealed that MDTP had already surpassed its initial target of RM70 million, with more than RM100 million in revenue and continuing growth.
Teh emphasized that MDTP has onboarded over 1,200 members, and the platform is expected to see this number increase substantially in the coming months as more businesses get involved. He also highlighted ongoing discussions with countries like China, Japan, the US, Europe, and Saudi Arabia to further expand the platform’s global reach.
Facilitating Global Business Connections
MDTP has attracted international buyers from diverse industries, including franchising, oil and gas, commodities, food and beverages, pharmaceuticals, and ICT. The platform allows Malaysian and foreign businesses to discover potential business partners, facilitating global trade connections that benefit all parties involved.
Addressing Trade Ecosystem Gaps
Matrade’s Deputy CEO of Exporter Development, Abu Bakar Yusof, stressed that MDTP is part of the government’s initiative to address the gaps in Malaysia’s trade and export ecosystem. He acknowledged that many local entrepreneurs still lack a digital mindset, and MDTP is designed to bridge this gap and help businesses adapt to digitalization for sustainable growth.
The COVID-19 pandemic accelerated the shift toward digital solutions, and this has reinforced the importance of platforms like MDTP in ensuring businesses remain competitive in a global market.
Driving Digitalization and Connecting with International Partners
The Minister of Investment, Trade, and Industry (MITI), Tengku Datuk Seri Zafrul Abdul Aziz, stated that MDTP plays a crucial role in digitalizing Malaysian businesses and enabling them to connect efficiently with international buyers and partners. He emphasized the role of Matrade’s global expertise combined with Fusionex’s data-driven insights to provide Malaysian exporters with comprehensive digital solutions and services to enhance their products and services for the international market.
Supporting MSMEs and Strengthening Malaysia’s Export Ecosystem
Matrade CEO Datuk Mohd Mustafa Abdul Aziz reinforced that MDTP aligns with Matrade’s mission to promote Malaysian enterprises globally. Through the platform, MSMEs can showcase their offerings, engage in virtual and hybrid events, and accelerate business transactions with buyers from around the world.
MDTP also plays a pivotal role in driving the digital transformation of Malaysia’s MSMEs, helping them adapt to new technologies and ensuring their long-term success in the global marketplace. This initiative supports Matrade’s overarching goal of strengthening the nation’s export ecosystem and ensuring the sustainability of Malaysia’s trade.
