The United States (US) is one of Malaysia’s largest trading partners, and Malaysia was the United States’ 23^rd largest source of imports in 2021. The US is a large domestic market, with high purchasing power and a diverse population. Products with high export potential are fast moving consumer goods (FMCG), food and beverages, halal related products, medical food, supplements, personal care and medical devices.

However, MATRADE has highlighted some challenges of exporting to the US. Firstly, there is a lack of a Free Trade Agreement (FTA) between US and Malaysia, which means some Malaysian goods face higher import tariffs than competitors. There is also competition with other countries like China, Mexico, Thailand and Vietnam, who offer identical or similar products. On top of that, all imported products are subject to applicable local standards and certifications.

As a result of the Covid-19 pandemic, B2B e-commerce has grown rapidly in the United States. According to Forrester Research, B2B ecommerce transactions will reach $1.8 trillion by 2023, which is 17 percent of all B2B sales in the US. Research has also shown that B2B is the most effective sales channel, making it the preferred sales channel for many businesses. Thus, Malaysian exporters who are interesting in expanding into the US or enhance their sales in the US should take advantage of these B2B e-commerce trends.

B2B customers are also using more channels to find suppliers, such as email, in-person, phone, supplier website, procurement department, mobile app-procurement portal, video conference, web chat, and Google and web search. Businesses need to learn how to adapt and market their brands to the next generation of buyers, as well as learn to conduct business communication through omnichannel.

Besides that, businesses need to be aware of the higher demanding requirements of next generation buyers. As next-gen buyers prefer to have access to thousands of products on one platform, businesses need to cater to this demand. Next-gen buyers also seek instant gratification, demanding for quicker deliveries. Hence, Malaysian businesses should make their products available in the US in order for the product to be shipped to the customer immediately.

Malaysian businesses who are interested in exporting to the United States with B2B e-commerce can contact GoBiz USA. Businesses can also reach out to MATRADE for enquiries and assistance.

For enquiries, please contact:

MATRADE Los Angeles
Mr. Zuaziezie Zulkefli
Trade Commissioner
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Mr. Brent Marletti
Marketing Manager
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GoBiz Solutions Inc.
Mr. Turker Hidirlar
CEO
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GoBiz USA
Christina Tee
SEA Chief Strategy Officer
T: +6012-770 1019
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Grace Gan
Malaysia Operations Executive
T: +6012-394 3599
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GoBiz USA:
https://www.gobizusa.com/

Sources:
MATRADE webinar (Exporting to the US with GoBiz USA: Your B2B Marketplace)