M'sia trade from January-October up 3.4% to RM1.13 trillion

  • Business
  • Thursday, 19 Dec 2013

KUALA LUMPUR: Malaysia’s total trade between January and October this year rose by 3.4% to RM1.13 trillion from RM1.09 trillion in the same period last year, according to Malaysia External Trade Development Corp (Matrade).

Chief executive officer Datuk Dr Wong Lai Sum said exports rose by 0.9% to RM591.83bil and imports were up 6.3% to RM540.38bil, both compared to the same period last year.

“We foresee total trade value will surpass last year’s by year-end, taking into account the world economic climate and demand,” she told a media briefing on Matrade’s 2014 trade promotion activities here yesterday.

In line with Matrade’s aim to accelerate Malaysia’s export growth next year, it has planned 147 trade-promotion activities.

“These comprise participation in international trade fairs, specialised marketing missions, in-coming buying missions, joint promotion activities and organisation of Malaysia International Halal Showcase, Malaysia Services Exhibition and International Trade Malaysia,” Wong said.

One of the new initiatives Matrade would undertake for 2014 is the high-impact GoEx programme.

The programme is aimed at enhancing the competitiveness, contribution of exports and internationalising small medium enterprises (SMEs) through market immersion.

“This programme also aims to have 50 export-ready SMEs and to boost exports by 30% annually with five new buyers established for each company per market,” she said.

She said this was in line with the Government’s objective to ensure that SMEs contributed 40% to gross domestic product and 20% to exports by 2020.

The industry sectors that will be covered by trade promotion activities include oil and gas, maintenance, repairs and overhaul, electrical and electronics, information communication technology, chemical and chemical products, transport equipment, logistics, medical devices, building materials, machinery, lifestyle, biotech and halal products and services, processed food, construction and professional services and business services.

She said Matrade would also host industry-specific international events in Malaysia – the Offshore Technology Conference Asia and Kuala Lumpur International Aerospace and Defence Business Convention next year.

“More than 60% of the promotion programmes planned will be in Asia, as it is expected that this region will continue to be the global economic powerhouse to propel growth in trade.       

“A total of 36 programmes, or 29% of trade promotion activities, will be within Asean,” she said. – Bernama

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Business , malaysia total trade , Matrade


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