ASEAN KEY DESTINATIONS
Malaysia's total trade up 18 percent
He said a recovery in global demand and the ministry's intensified trade promotion efforts were expected to push up the trade figures after a decline of 16.9 per cent last year as compared to 2008.
Total trade continued to show impressive expansion for the first nine months this year, he told reporters at the launch of the International Trade Malaysia 2010 and the KL International Trade Forum 2010 here.
During the January to September period, total trade increased by 23 per cent to RM864.48 billion, with exports and imports growing by 20.4 per cent and 26.4 per cent respectively.
Mustapa said a faltering recovery in the global economic may dent Malaysia's trade performance next year in tandem with that of other countries.
However, to sustain trade growth momentum the ministry will try to expedite ongoing free trade agreement (FTA) negotiations, boost small and medium enterprise (SME) export, penetrate new market and reduce non-tariff barrier.
"Trade is anticipated to slow but the market will continue to expand and diversify," he said.
On the Trans-Pacific Partnership agreement talks with eight countries, including the United States, Mustapa said that analysts had noted that the agreement is likely to be concluded by end of next year.
He said TPP may result an improvement in the climate of trade and investment among participating nations, namely Australia, Brunei, Chile, New Zealand, Peru, Singapore, Vietnam and the U.S.
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