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M’sia will sustain trillion-ringgit trade this year, says Mukhriz

September 10, 2012

KUALA LUMPUR: Malaysia is expected to sustain its trillion ringgit trade this year despite the uncertainties in Europe and the sluggish United States’ economy, International Trade and

Industry Deputy Minister Mukhriz Mahathir said today.

The target would be driven by the huge exports to China and fast-growing Middle East and India markets, he told reporters after the SME100 launch.

“Asia has been growing very fast, our trade with China is still very huge and we are maintaining our trade surplus with China.

“We remain optimistic; our approach has been diversifying our market base. I think demand for our goods is still there eventhough there is a drop in exports in our electrical and electronics products,” he said.

Mukhriz said the ministry was monitoring exports to China as the largest exports to that country were electrical and electronics products.

“So, when there is a slight drop in the exports of electrical and electronics products, we are looking to see if our trade with China was reducing compared to previous years. So far, it’s going quite okay,” he said.

Mukhriz said while the drop in exports in the past two months was the main concern, the overall picture is expected to deliver positive results.

Last year, Malaysia’s trade clinched RM1.26 trillion.

On the launch of SME100, Mukhriz said to date, the small and medium enterprises (SMEs) contributed to one third of Malaysia’s gross domestic product and constitutes about one-fifth ofl total exports.

“As such, the importance of the SME sector to our national economy cannot be under-estimated.

“Even during the current period of global economic uncertainty, the SME sector continues to be a growth avenue that propels Malaysia forward,” he added.

– Bernama


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