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Tok Pa expects Malaysia’s trade to grow by 2%

Malaysia's trade went up by 1.2% in 2015 while trade surplus was up by 14%.

Malaysia's trade went up by 1.2% in 2015 while trade surplus was up by 14%.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — February 11, 2016: The country’s total trade is likely to grow by two per cent in 2016 amid the challenging economic environment.

According to International Trade and Industry Minister Datuk Seri Mustapa Mohamed, the growth would be supported by the government’s focus on trade in Asean.

“Among our focus will be Asean nations. Asean is the largest trading region which contributes significantly to Malaysia’s total trade,” he said after launching the “Generation of New Exporters” (GenEX) programme here today.

Last year, Malaysia’s total trade grew by 1.2 per cent to reach RM1.466 trillion, compared to RM1.448 trillion in the previous year, while exports rose
by 1.9 per cent to reach RM779.95 billion and the trade surplus went up 14 per cent.

“We hope to be able to maintain this. We also have been able to increase exports under quite challenging circumstances and we have been able to increase trade surpluses,” said Mustapa.

Mustapa said the government plans to increase the number of export-ready Bumiputra entrepreneurs via programmes under the Young Entrepreneur Organisation Malaysia (GMB).

“We will ask them to increase the programmes to help boost the country’s exports for 2016 and 2017,” he added.

GenEx, a specialised programme to help spur Bumiputra youth entrepreneurs’ export ventures, is a collaboration between the Malaysia External Trade Development Corporation (Matrade) and GMB.

GMB will be scouting 100 youth-owned companies in Malaysia to be GenEX participants, said Matrade chief executive officer Datuk Dzulkifli Mahmud.

Of the total, 30 will stand a chance to start exporting their products and services to five countries — the United Kingdom, United Arab Emirates, Singapore, Netherlands and Qatar. — Bernama

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