Matrade Eyes Higher Fashion, Lifestyle Exports

KUALA LUMPUR, Nov 1 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) aims to increase exports from the fashion and lifestyle segment to 12 per cent of the country's soft exports this year from nine per cent in 2015. Last year, the segment chalked up an export value of US$5.01 billion (RM21 billion). MATRADE Chief Executive Officer Dzulkifli Mahmud said for the first eight months of this year, exports of local lifestyle and fashion products rose by seven per cent to nearly US$3.34 billion (RM14 billion). "As for 2015, exports of lifestyle and fashion products to China grew by 18 per cent to US$189.2 million (RM792 million), while for the first eight months of 2016, exports from the segment rose by 16 per cent to US$131.4 million (RM550 million)," he told reporters after a media briefing on the Malaysia Lifestyle and Fashion Showcase to be held in Shanghai on Nov 7-12. Dzulkifli said the agency will be aggressively promoting local designers, noting Shanghai is a gateway to the China market. Shanghai has a population of some 24 million and a per capita disposable income of nearly US$8,000, the highest of any city in China. "MATRADE will be organising the Malaysia Promotional Programme (MPP) to Shanghai and will bring 17 local designers to promote Malaysia's contemporary fashion, particularly batik and songket," he said, noting that domestic spending in China remains strong despite the slowing global market. The MPP will also include a pitching session from each designer in front of potential buyers, retailers and investors, followed by business-to-business networking sessions. The 17 local designers who will promote their ready-to-wear and haute couture range include Bill Keith, Melinda Looi and Noor Arfa Batik. This promotional trade mission is also conducted in line with Malaysia's Fashion Week to be held on Nov 2-5 at the MATRADE Exhibition and Convention Centre. Meanwhile, Dzulkifli also urged local companies to conduct their transactions in renmimbi to mitigate foreign exchange risk. "We have several Malaysian banks operating in Shanghai and with the facilities provided by Bank of China for the ringgit and renmimbi, I believe that it would be easier for Malaysian companies to trade and be involved in other activities in China," he added. MATRADE is the national trade promotion agency. --BERNAMA