TOTAL TRADE MAY EXCEED RM1.49TRIL THIS YEAR
Country able to sustain growth despite challenging global environment, says Ong
MALAYSIA’S total trade this year is expected to surpass the RM1.485 trillion recorded last year. Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said the country was able to sustain an improving trade despite the challenging global environment.
“From January until last month, we have done well with a total trade of RM859.17 billion, with exports at RM451.05 billion and imports at RM408.12 billion, for a surplus of RM42.93 billion.
“If we were to multiply RM859.17 billion by two, we can safely say that we will surpass the RM1.485 trillion (trade value) recorded last year and achieve RM1.5 trillion (this year),” he told a press conference after opening a smart building conceptualising the Fourth Industrial Revolution (Industry 4.0) at Infineon Technologies (M) Sdn Bhd, here, yesterday.
Also present were ambassador-designate of Germany to Malaysia Nikolaus Graf Lambsdorff, Malaysian Investment Development Authority deputy chief executive officer Datuk Phang Ah Tong and Melaka State Economic, Investment and Industries deputy committee chairman Datuk Sulaiman Md Ali.
Ong attributed the growing trade performance to the electrical and electronics (E&E) industry, where there is a strong worldwide demand.
“E&E is a big contributor to our export income. For example, in June, the country’s total export was RM73.07 billion, whereby E&E products constituted RM27.96 billion, which was about 38 per cent.”
On Infineon’s new smart building, its board member Jochen Hanebeck said: “The building is designed for a more automated, connected and controlled manufacturing environment.
“This will help us increase the efficiency of our equipment, materials, processes and workforce.”
Infineon president and managing director Lee Cheong Chee said it was crucial to ensure that employees could handle technologically-advanced automated equipment as the company moved towards Industry 4.0.