Number Of Companies From Sabah Registered With Matrade Still Low - Mukhriz

TAWAU, May 2 (Bernama) -- The number of companies from Sabah registered with the Malaysian External Trade Development Corporation (Matrade) is still low and has to be increased in one or two years to come.

Deputy Minister of International Trade and Industry Datuk Mukhriz Tun Dr Mahathir said currently only 126 companies had registered with the trade promotion agency as compared to more than 9,000 companies nationwide.

"One hundred and twenty-six is a very small figure, representing only 1.4 per cent of the total registered entities with Matrade country-wide," he told reporters after a MITI/Matrade get-together here Monday.

At the event, Mukhriz held a dialogue with entrepreneurs, exporters and importers from here.

Mukhriz said among reasons for the dismal number of registrations were due to lack of exposure to entrepreneurs, exporters and importers in Sabah on the benefits to reap from Matrade's activities locally and abroad.

The Deputy Minister hoped that more companies from Sabah would come forward to register with Matrade as it was a simple procedure, could be done via the Internet and did not incur any payment.

"By registering with Matrade, companies will be informed about the agency's activities including their specific requirements. For instance, if a company is involved in the food industry, we will inform them on Matrade's activities related to food such as the Halal Expo.

"If registered with Matrade, the agency will also gather information on the activities of the companies in Sabah and at the same help Matrade prepare whatever their needs are to market their products at global level," he said.

Asked on today's dialogue, Mukhriz said entrepreneurs engaged in the furniture industry in Sabah raised the issue of timber short supply, high sea transportation cost and the ringgit's appreciation vis-a-vis the US dollar and the euro.

Mukhriz said a stronger ringgit would render furniture products from Sabah less competitive as compared to products from their competitors, including from European countries.

Nevertheless, the government was closely monitoring the situation, he said.

"I see Sabah has huge potential but because of the obstacles faced, they cannot realise their full potential.

"If we want to see a vibrant growth of the Sabah economy, issues raised just now ought to be given serious attention," he added. -- BERNAMA

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