Malaysia to record export growth of 5-6 per cent this year

KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) expects Malaysia to record an export growth of between five per cent and six per cent this year.

Chief executive officer Mohd Shahreen Zainooreen Madros said the country’s export performance in 2017 was exceptionally well and it created a high base effect for the current year’s export performance.

“We are cautiously optimistic on the export growth and we hope that the growth projection of between five per cent and six per cent could sustain for at least for six months.

“This would be supported by our trade with Asean countries as our main trading partner is Asean, and they are growing as well... this will be good for us,” he told a press conference after announcing Matrade’s work programme for 2019.

Matrade’s work programme for 2019 comprises exporters development and export promotion activities, and programmes aimed at accelerating the participation of Malaysian companies in the export market.

“Next year, we expect to organise 437 exporters development programmes. We will venture into new markets, including Uganda and Bangladesh, and although we have a limited budget in terms of organising programmes, we will work with government agencies and coordinate with them,” he said.

Among the new potential sectors to be explored are aerospace and creative industries, such as film, animation and fashion.

“While the halal sector has always been a key industry, we will focus more on Islamic finance, pharmaceuticals and medical devices,” he added.