Matrade optimistic of achieving RM1 trillion in exports for 2019


Malaysia External Trade Development Corporation (Matrade) deputy chief executive officer Datuk Wan Latiff Wan Musa said that the export promotions would be conducted through trade fairs, Export Acceleration Missions (EAM) and International Sourcing Programmes. - SHAARI CHEMAT/The Star (filepic)

KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) is optimistic that Malaysia’s total exports projection of more than RM1 trillion set by the Ministry of International Trade and Industry can be achieved due positive catalysts and economic outlook moving forward.

Chief executive officer Datuk Wan Latiff Wan Musa said for January-May this year, Malaysia recorded total exports of RM405.36 billion, an increase of 0.3 per cent when compared with the same period last year.

"We managed to achieve 0.3 per cent growth in exports in the first six months, and we just need 0.2 per cent increase this year to exceed the RM1 trillion threshold," he told a media briefing on the bilateral relations between Malaysia and Europe here, today.

He said with the current uptrend in export, as well an increase in foreign direct investments (FDIs) inflows, exports were most likely to perform better in the second half of this year.

"As we all know, export is always better in the second half of the year as compared with the first half.

"September and October are usually good months for Malaysia (in term of exports) and I hope the current trade negotiations between the US and China would find common ground soon,” he added.

Meanwhile, Sage latest survey entitled ‘We Power the Nation’ revealed that 59 per cent Malaysian businesses are positive on trade performance moving forward despite the global trade challenges.

The report was commissioned to explore the impact of international trade on Malaysia, which also included data on 3,000 businesses across 12 countries.

Sage Asia's vice president and managing director Arlene Wherrett said six out of 10 domestic businesses were optimistic that trade would improve in the next 12 months, driven by previous year's healthy performance and profit growth, as well as stronger inter-regional trading prospects.

Despite volatility in the current global market due to the US-China trade war, Wherrett said the survey showed that Malaysian businesses continued to rely on key trading partners such as China (43 per cent), the US (27 per cent) and Japan (26 per cent).

Survey respondents reported that in the next 12 months, diversification of market would be a priority, given the current global trade uncertainties with 68 per cent of local firms said they were keen on exploring markets across Asia. - Bernama
 
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

English shops and pub gardens reopen in 'major step' to freedom
Most European city-dwellers support 2030 ban on combustion car sales
Possible chip glut scenario
Pharmaniaga appointed sole distributor of Baraka in Malaysia
FBM KLCI likely to trade higher next week
Aramco agrees US$12.4bil deal to sell stake in pipelines
Solar in Malaysia - Challenges, and too much of a good thing?
CPO futures to see volatile trading next week, eyes on MPOB data
Pfizer, BioNTech seek US emergency nod for COVID-19 vaccine in adolescents
Eyes on next generation as Singapore succession is thrown into question

Stories You'll Enjoy


Vouchers