Malaysia’s trade to grow 10 to 20 per cent this year

KUALA LUMPUR: Malaysia’s trade is likely to grow at a strong double-digit growth of between 10 per cent and 20 per cent in 2017.

Malaysia External Trade Development Corporation (Matrade) chief executive officer, Ir Dr Mohd Shahreen Zainooreen Madros said the growth would mainly be driven by sustained demand in electrical and electronics, palm oil and petroleum sectors.

“Overall, what we have seen is that the numbers for the first six months have been very good. All reports indicate that the next six months will also see follow through momentum,” he told reporters at the Brand Entrepreneurs Conference (BEC) 2017 for small and medium entrepreneurs here yesterday.

Also present was Branding Association of Malaysia president, Datuk Eric Chong.

The current outlook for the global economy is positive as major

Overall, what we have seen is that the numbers for the first six months have been very good. All reports indicate that the next six months will also see follow through momentum. Ir Dr Mohd Shahreen Zainooreen Madros, Matrade chief executive officer

international economic bodies have projected positive recovery in global trade.

Recently, the International Monetary Fund has maintained its global growth forecast at 3.5 per cent as it is optimistic with current global developments in particular global trade activities.

Meanwhile, Malaysia’s total trade rose by 22 per cent to RM859.17 billion in the first half of 2017 from RM704 billion recorded in the first half of 2016.

“Hopefully, next year we will continue with the trend, which to some extend is subject to the global economic trend. What you can do is to be more aggressive in making sure that the country can ride the stride.

“What we are trying to do really is looking beyond our economic area and expand the pie as much as we could,” Mohd Shahreen said.

Themed “Sailing in Unchartered Waters – Opportunities and Threats in This Ever Changing World”, the one-day conference was launched by the International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

The Brand Entrepreneurs Conference is co-organised by Matrade and the Branding Association of Malaysia, supported by the International Trade and Industry Ministry. — Bernama