The Malaysia External Trade Development Corporation (Matrade) is focusing on fashion as it has substantial growth potential and could become Malaysiaâ€™s major exports. They also plan to focus on promoting fashion-related programmes this year beginning with the Malaysia Fashion Week to be held in October.
Last year, the lifestyle segment generated RM1.4 billion in sales and they hope to double that this year after the promotion agency signed a memorandum of understanding with Stylo International, a foreign fashion network.
According to Matrade Chief Executive Officer Datuk Dr Wong Lai Sum, export figure could double this year, given the traction Matrade had already received from the upcoming event â€” the eighth since 2007.
Lifestyle products and services are fast becoming a strong contributor to a nationâ€™s economic development. It is uniquely and profitably positioned where there marketplace is bursting with ready prospects.
Also the three-day international trade exhibition called Intrade 2014 would be held on the sidelines of the Malaysia Fashion Week to exhibit lifestyle products including fashion apparel and textiles, accessories, footwear, cosmetics, home products and furniture.
Intrade 2014 will be held from October 20 with over 450 exhibitors from more than 30 countries and with 300 trade buyers expected to patronise the event. They are targeting more than 10,000 visitors this year and with the amount of traction the event is generating, they hope to see more visitors to Intrade this year.
They also hope the small and medium enterprises (SMEs) especially youths involved in lifestyle would make use of the programme as a platform to penetrate the global fashion market. In order to encourage the SMEs to participate in the programme, Matrade would provide grants of RM5,000 each under its market development grant.
However, to put Malaysia on the global fashion map, it is important that the country has a defined fashion agenda and being a country that is rich with culture, they have so much to offer. This year the event will see a fusion of Malaysian, Asian and Western influences, and participation of leading designers from 15 countries.
Last year, Malaysia received orders worth RM10 billion just for textile.
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