Effendi: Higher export rates can help cut trade deficit

  • Nation
  • Tuesday, 11 Mar 2003

KUALA LUMPUR: Malaysia's trade deficit will be reduced if the current trend of annual food exports exceeds annual imports in the next five years, said Agriculture Minister Datuk Dr Effendi Norwawi. 

He said the annual increase in the food export rate was nine times higher than the increase in the food import rate last year. 

He said the increase in food export rate stood at RM900mil as opposed to the increase in food import rate, which was recorded at RM100mil. 

“There has been a reverse in the trend of the yearly increase in food import and export rates last year as compared to the previous years,” he said at the parliament lobby after the opening of the first meeting of the fifth term of the 10th Parliament session yesterday. 

Effendi, who was commenting on the Royal Address by the Yang di-Pertuan Agong on the Government's plan to continue to increase food production to reduce import bills, said before 2000 the yearly increase in import rate was RM900mil while the yearly increase in export rate was RM100mil.  

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