KUALA LUMPUR: China’s decelerating growth may be a hard landing for exporters, but trade will continue to grow with hard work, says Minister of International Trade and Industry (Miti) Datuk Seri Mustapa Mohamed. He said China, the foremost trade partner for 120 countries in the world, grew by 7.4 per cent last year, and is very competitive to all exporters vying to gain a market share in that country. “As we work hard to promote our exports, many others will come up with their own initiatives to gain from the Chinese market. “As such, we hope our people will be more aggressive and continue to do well in the big China market,” he added. Mustapa also expressed the view that Malaysia can overcome the turbulence in the global economy as it is more diversified, with China making up only 13 per cent of exports, while having other export partners as Northeast Asia, the US , Japan, South Korea and the European Union. Speaking to reporters at the launch of the “My Asean...

KUALA LUMPUR, Jan 27 (Bernama) — The global slump in oil prices will not have an adverse effect towards the realisation of the Asean Economic Community (AEC), International Trade and Industry Minister Datuk Seri Mustapa Mohamed said. He described the Brent crude oil price fall to US$48 a barrel until yesterday as temporary. “When I was in Davos for the World Economic Forum annual meeting recently, many leaders concurred that this situation will last for six months and there will be a correction in the second half of the year, and the price will likely rebound, not up to US$100, but between US$60-US$70 a barrel. “If this were to happen, it will be a bonus to us,” he said at a media briefing on the AEC here today. Hence, with the economic recovery expected in the second half of the year, Mustapa believes that the establishment of the AEC would come to fruition by year-end. On the status of the AEC, he said 80.7 per cent or 334 of the 414 Asean-wide measures targeted in...

KUALA LUMPUR 5 Feb. – Kementerian Perdagangan Antarabangsa dan Industri yakin Malaysia akan terus menghasilkan lebihan dagangan walaupun pertumbuhan eksport diunjurkan di paras dua hingga tiga peratus pada tahun ini. Menteri Perdagangan Antarabangsa dan Industri, Datuk Seri Mustapa Mohamed berkata, perkara tersebut bukanlah satu masalah kerana negara telah menghasilkan lebihan dagangan selama 17 tahun iaitu sejak Disember 1997. “Ia bukannya satu isu, kami yakin Malaysia akan terus menghasilkan lebihan dagangan yang sihat. Pada tahun lalu, negara telah menghasilkan lebihan dagangan sebanyak RM83.11 bilion,” katanya. Beliau berkata demikian sidang akhbar Laporan Prestasi Perdagangan Malaysia 2014 di sini hari ini. Pertumbuhan eksport yang kukuh menghasilkan lebihan dagangan sebanyak RM83.11 bilion pada 2014 yang merupakan lebihan dagangan tahun ke-17 berturut-turut dicatatkan. Lebihan dagangan tahun tersebut mencatatkan pertumbuhan dua digit iaitu sebanyak 16.6 peratus,...

KUALA LUMPUR: Malaysia’s trade and exports are expected to grow at a moderate pace of 2% to 3% each this year, lower than the 5.9% and 6.4% achieved respectively in 2014, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed. “The 2% to 3% increase in trade and exports takes into account the following: one is the weakening global economy from 3.8% to 3.5%, number two is the uncertainty in currency market, number three is the decline in oil prices and perhaps continued modest growth in terms of commodity prices; we don’t see a sharp uptrend. The two growth forecasts have taken into account these factors,” he told reporters at a briefing on Malaysia’s 2014 trade performance yesterday. He said crude oil prices have been hovering around US$50 per barrel in the past few days but he believes that the US$55 per barrel forecast this year by the ministry is achievable and recovery in oil price is expected next year. Commenting on the currency, Mustapa...

KUALA LUMPUR, Feb 5 (Bernama) — Malaysia’s 2014 trade surplus registered double-digit growth of 16.6 per cent, a remarkable achievement when compared with the negative scenario in 2012 and 2013, says Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed today. “The growth impetus in exports resulted in a trade surplus of RM83.11 billion, representing Malaysia’s achievement of 17 consecutive years of trade surplus,” he told reporters at the unveiling of “Malaysia’s Trade Performance 2014″, here today. He said exports in 2014 rose by 6.4 per cent or RM46.14 billion to RM766.13 billion, surpassing the forecast export growth of six per cent in the 2014/2015 Economic Report. Mustapa noted that the country’s imports increased by 5.3 per cent or RM34.32 billion to RM683.02 billion. Malaysia’s total trade expanded by 5.9 per cent to reach RM1.45 trillion in 2014 compared with RM1.37 trillion in 2013. He said the continued uptrend was supported by...

KUALA LUMPUR, Feb 12 (Bernama) — The six per cent growth rate to the gross domestic product (GDP) recorded by the Malaysian economy last year is still encouraging despite the uncertain world economy. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the number was still positive and remained the highest compared with other Asean members. “With this growth, I am confident that Malaysia will continue to progress to be a high-income nation by 2020,” he told reporters on the sidelines of the launch of the Mid-Tier Companies Development Programme here today. Today, Bank Negara Malaysia reported GDP growth of six per cent for 2014 compared with 4.7 per cent a year ago. As for the fourth quarter, the central bank reported a higher growth of 5.8 per cent versus 5.6 per cent in the third quarter.  

Malaysia’s total trade went up by 5.9 per cent to RM1.5 trillion last year from RM1.4 trillion in 2013. Deputy prime minister Tan Sri Muhyiddin Yassin said the export value increased by 6.4 per cent from RM46.1 billion to RM766.1 billion, while import value also increased by 5.3 per cent from RM34.3 billion to RM683 billion. “Strong export growth has contributed to the trade surplus for 17th consecutive year. The trade surplus for 2014 indicated an increase of 16.6 per cent, an improvement compared to negative growth (-22.8 per cent) recorded in 2012 and (-25.7 per cent) in 2013. “The manufacturing sector has contributed RM587.3 billion, an increase of 7.1 per cent from RM39.1 billion,” he said when addressing industry players in the state during a meet the people session on Thursday. Muhyiddin said a total of 3,966 projects were approved in the country with a capital investment worth RM259.9 billion from 2010 to September 2014, adding these investment projects had...

Kuala Lumpur: Projek pembangunan pelabuhan Tok Bali di Pasir Puteh, Kelantan dijangka bakal menarik pelaburan sehingga RM1 bilion dalam tempoh tiga tahun. Menteri Perdagangan Antarabangsa dan Industri (MITI), Datuk Seri Mustapa Mohamed berkata, MITI sudah meluluskan projek terbabit pada 7 Januari 2015. Katanya, setakat ini terdapat kira-kira 100 syarikat yang berpotensi untuk melabur dalam projek berkenaan dan projek itu dijangka akan memberi manfaat kepada kawasan sekitarnya dan juga Kelantan secara keseluruhannya. “Tok Bali mempunyai potensi besar sebagai pangkalan untuk menyediakan perkhidmatan berkenaan kerana lokasinya strategik berikutan jaraknya ke Kawasan Pembangunan Bersama Malaysia-Thailand (MTJDA). “Tok Bali Supply Base Sdn Bhd (TBSB), pengendali pelabuhan terbabit sudah melabur sebanyak RM90 juta tahun lalu dan tahun ini dianggarkan RM100 juta akan dibelanjakan untuk pembangunan projek itu,” katanya pada sidang media di sini, semalam. Mustapa berkata, TBSB...

KUALA LUMPUR, Feb 23 (Bernama) — The Tok Bali Supply Base project in Kelantan can attract up to RM1 billion in investments within the next three years. Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the project would have a spin-off effect on the surrounding Tok Bali area and the state itself. “This is a very important project for Kelantan. This is what the Kelantanese are yearning for,” he told reporters during a briefing Monday. Mustapa said Tok Bali Supply Base Sdn Bhd (TBSB), the operator of the supply base, has invested about RM90 billion to construct it and is expected to spend an additional RM100 million this year with its partners. He said TBSB is currently in talks with a pipe specialist company to set up a pipe-coating operation at the port, with an investment of about RM340 million over the next two years. He added that the company would occupy as much as 32.37 hectares of the port land with the objective of creating a facility...

KOTA BAHARU, Feb 24 (Bernama) — The 21st ASEAN Economic Ministers’ Retreat this weekend will discuss ways to facilitate trade among the region’s member nations, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. “We want to discuss trade barriers, how to facilitate two-way trade besides the benefits to be gained. “With different standards, for example, if we want to send the same good through different ports in ASEAN countries, it has to undergo quite stringent procedures and tests,” he said at a press conference to announce the programme for the retreat to be held here on Feb 27 to March 1. Mustapa said Kota Baharu was chosen as the venue for the retreat to enable Kelantan to be promoted as a progressive trade, investment and tourism destination. “Through the programme, Kelantan will be better known and this will bring a positive impact to the state in terms of tourism, trade and investment, while opening a wider market in ASEAN countries...