MATRADE Annual Report 2020 58 PURPOSE 1 FACILITATING MARKET ACCESS MATRADE's main function is to provide access to Malaysian companies by linking them with overseas buyers. For this, MATRADE has organised participation in International Trade Fairs (ITF) and conducted Export Acceleration Missions (EAM) and International Sourcing Programmes (INSP) to explore export opportunities. All these efforts are aimed to assist Malaysian companies gain access to export markets, explore new opportunities and introduce products and services. Within a short span, the COVID-19 pandemic led to international travel restrictions resulting in the cancellation of programmes by organisers, especially ITFs. Taking this into account, MATRADE leveraged on digitalisation initiatives and employed virtual alternative methods for business matching between Malaysian companies and overseas buyers via eBizMatch. Existing Free Trade Agreements (FTAs) and Memoranda of Understanding (MoUs) were also crucial in gaining market access in addition to the aforementioned initiatives. All initiatives to facilitate market access are jointly carried out by MATRADE’s headquarters, regional and overseas offices. MATRADE's network of overseas offices monitors development of business opportunities in international markets and provides market intelligence to the headquarters to enable matching opportunities with Malaysian companies whenever the demand arises. Interested importers are also invited to participate in the INSP which are conducted virtually in conjunction with virtual trade fairs to meet targeted companies. Overseas offices also manage export promotion programmes that take place abroad. Results of the Export Promotion Programmes in 2020 8 1,365 3 1 1 Programme International Trade Fair eBizMatch (including #MyAPEC 2020 Exhibition) International Sourcing Programme Export Acceleration Mission Information Counter Implementation in 2020 Export Sales RM4.24 bil Total Companies 1,686 Total Business Matching Sessions 6,408
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