ID :
376285
Tue, 08/04/2015 - 13:54
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Intensify Value-Added Products And Services Exports, Says Matrade

KUALA LUMPUR, Aug 4 (Bernama) -- Intensifying exports in high value-added products and services sector can help mitigate declining commodities exports, says Malaysia External Trade Development Corp (Matrade). Its Chief Executive Officer, Dzulkifli Mahmud, said the talk of the town right now was the rise of Internet of Things (IoT), where more Malaysian local companies were embarking on. The IoT is the integration of enabling technologies such as Internet, wireless sensors, radio frequency identification and global positioning systems, to enhance the way people live. "We have talented local engineers who produced high-technology machinery that is beneficial for the electrical and electronics sector exports. "We are also working closely with Pertubuhan Arkitek Malaysia (Malaysian Institute of Architects) to encourage them to export their services," he told reporters at the "Economic Outlook and the Impact of Exchange Rate Volatility" here Tuesday. Dzulkilfli said to be competitive, Malaysia must not solely rely on the ringgit (Malaysia's currency) depreciation to push its exports, instead, exporters must remain competitive, resilient and innovative in lowering cost per unit. He said Matrade, the national trade promotion agency, expected intra-Asean trade to grow to 30 per cent from 24 per cent of total trade by 2020 as the region has all the ingredients as a great trading hub. Dzulkilfli said the half-day talk organised by Matrade on Tuesday, was aimed at creating more awareness on the impact of exchange rate volatility. "We will continue to hold such events for local exporters and small-and-medium enterprises to understand the current economic situation so that they are better equipped for any challenges," he said. --BERNAMA

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