M’sia op­ti­mistic of growth in to­tal trade

The Sun (Malaysia) - - SUNBIZ -

KUALA LUMPUR: Malaysia is op­ti­mistic of reg­is­ter­ing a growth of be­tween 1% and 2% in its to­tal trade this year de­spite the World Trade Or­gan­i­sa­tion (WTO) sharply re­vis­ing its global trade fore­cast for 2016.

Deputy In­ter­na­tional Trade and In­dus­try Datuk Chua Tee Yong said the min­istry is aware of fu­ture chal­lenges but it would work with the other gov­ern­ment agen­cies, in­clud­ing the Malaysia Ex­ter­nal Trade De­vel­op­ment Cor­po­ra­tion (Ma­trade) to as­sist Malaysian com­pa­nies es­pe­cially on ex­port mat­ters.

“I think the WTO has ac­tu­ally down­graded the growth out­look for to­tal trade from 2.8%, pre­vi­ously, to 1.7%. There are coun­tries that are post­ing slower growth but Malaysia has still re­mained slightly pos­i­tive. There­fore, we be­lieve that we will achieve a pos­i­tive fig­ure by year-end,” he told re­porters af­ter the launch of Graphene Malaysia 2016 event here yes­ter­day.

In Bud­get 2017, Prime Min­is­ter Datuk Seri Na­jib Abdul Razak said Malaysia’s to­tal trade was ex­pected to reach RM1.5 tril­lion.

The WTO warned that growth had hit its slow­est pace since the global fi­nan­cial cri­sis and es­ti­mated that global trade would grow by just 1.7% in 2016 com­pared with its April pro­jec­tion of 2.8%. – Ber­nama

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