Malaysia's Trade Minister Mustapa Mohamed speaks during an interview with Reuters during the APEC trade ministers meeting in Hanoi, Vietnam May 19, 2017. REUTERS/Kham
KUALA LUMPUR: Malaysia’s trade is seen growing 5% in 2017 amid the global economic uncertainty, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
“What we’ve experienced in the first four months (of this year) was very unusual; we’ve experienced a steep increase in trade since five, six years (ago) by more than 20% this year. So, we feel it’s very difficult for us to maintain the significant increase.
“At this moment, we still have not reviewed our forecast as the situation is still uncertain. World trade is growing, but it is difficult to know what will happen in the second half of this year,” he told reporters at the breaking of fast hosted by the International Trade and Industry Ministry and its agencies on Monday.
Deputy International Trade and Industry Minister Datuk Ahmad Maslan was present.
Malaysia’s total trade in April 2017 expanded 22.5% to RM139.18bil compared with the corresponding month last year, with exports increasing 20.6% to RM73.97bil.
Meanwhile, the total trade for the first four months of 2017 surged 23.8% to RM569.68bil compared with RM460.02bil in the same period last year.
On another matter, Mustapa said trade relations with the Middle Eastern countries remained strong, especially after the recent high-profile visit by King Salman Abdulaziz Al-Saud of Saudi Arabia to Malaysia in February.
Commenting on the move by six Arab countries, including Saudi Arabia and Egypt, to cut diplomatic ties with Qatar for allegedly destabilising the region, Mustapa said: “What happened this morning would not have any impact on our trade and investments ties.” - Bernama
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