Malaysia may achieve projected export growth
BT 30.10.08
MALAYSIA may be able to maintain its projected export growth next year despite the current market conditions as there are still opportunities in other markets in India and China, said Minister of International Trade and Industry Malaysia Tan Sri Muhyiddin Mohd Yassin.
He said there is also growth within intra-Asean regional trade.“The prospects for exports will also depend on developments in the global economy especially in view of current financial crisis in the US and the slowdown in global growth,” he told a news conference after officiating at "International Symposium on EAFTA, CEPEA, FTAAP and Beyond" organised by the Japan Economic Forum and Institute of Strategic and International Studies Malaysia.
Muhyiddin said the failed Doha Round of trade negotiations was still relevant for Asean and Malaysia.“At the officials’ level there are discussions to make sure it is still alive,” he said. — Bernama
Thursday, October 30, 2008
Wednesday, October 29, 2008
Malaysia' Export Growth Expected Exceed 10 pct this year
August 05, 2008 19:33 PM
Malaysia's Export Growth Expected To Exceed 10 Pct This Year
KUALA LUMPUR, Aug 5 (Bernama) -- Malaysia export growth is expected to exceed 10 percent this year from 2.7 percent in 2007, according to Kenanga Research.
The projection was based on the strong first half of 2008 performance, Kenanga said in its "Malaysia External Trade" report.
However, the overall gross domestic product (GDP) growth for 2008 is projected to slow to 5.3 percent from 6.3 percent in 2007, underpinned by slower domestic spending and private consumption, it said."On the other hand, the large trade balance would help to increase the strength of Malaysia's resource balance and provide support for the ringgit," the research firm said.
Going forward, Kenanga said the weakening US and global economy may weigh on Malaysia's exports revenue.
Apart from the slowing external demand, the growth trajectory would be further underpinned by slower consumption and investment spending, it said."While GDP growth may reach or possibly breach six percent in second quarter of 2008, it may also signal the beginning of a cyclical downtrend going into the second half of 2008," Kenanga said.
"The continued slowdown in electronics and electrical (E&E) exports in June reaffirms our view that growth trajectory could have peaked," it said.
Similarly, the growth trend of non-E&E exports may have also follow suit as global prices of crude oil and palm oil begins to soften, it added.The second quarter 2008 export growth performance was the highest since third quarter 2004 at 20.8 percent.
"While GDP growth may reach or possibly exceed six percent in the second quarter of 2008, it signals the beginning of a downtrend going into the second half," Kenanga said.
"Thanks to the base effect as well as strong commodity-driven external demand, the second quarter 2008 trade performance was the highest since third quarter 2004 at 20.8 percent," it said.
As for Malaysia's trade performance in the month of June, receipts from mineral and agricultural commodity remained relatively high, Kenanga said."Malaysia's trade performance took a breather in June though surprisingly higher than what we had expected as receipts from mineral and agricultural commodity remains relatively high," it said."While the year-on-year growth in exports (18.4 percent) was above our estimate (14 percent), it was within consensus expectation," it added.-- BERNAMA
Malaysia's Export Growth Expected To Exceed 10 Pct This Year
KUALA LUMPUR, Aug 5 (Bernama) -- Malaysia export growth is expected to exceed 10 percent this year from 2.7 percent in 2007, according to Kenanga Research.
The projection was based on the strong first half of 2008 performance, Kenanga said in its "Malaysia External Trade" report.
However, the overall gross domestic product (GDP) growth for 2008 is projected to slow to 5.3 percent from 6.3 percent in 2007, underpinned by slower domestic spending and private consumption, it said."On the other hand, the large trade balance would help to increase the strength of Malaysia's resource balance and provide support for the ringgit," the research firm said.
Going forward, Kenanga said the weakening US and global economy may weigh on Malaysia's exports revenue.
Apart from the slowing external demand, the growth trajectory would be further underpinned by slower consumption and investment spending, it said."While GDP growth may reach or possibly breach six percent in second quarter of 2008, it may also signal the beginning of a cyclical downtrend going into the second half of 2008," Kenanga said.
"The continued slowdown in electronics and electrical (E&E) exports in June reaffirms our view that growth trajectory could have peaked," it said.
Similarly, the growth trend of non-E&E exports may have also follow suit as global prices of crude oil and palm oil begins to soften, it added.The second quarter 2008 export growth performance was the highest since third quarter 2004 at 20.8 percent.
"While GDP growth may reach or possibly exceed six percent in the second quarter of 2008, it signals the beginning of a downtrend going into the second half," Kenanga said.
"Thanks to the base effect as well as strong commodity-driven external demand, the second quarter 2008 trade performance was the highest since third quarter 2004 at 20.8 percent," it said.
As for Malaysia's trade performance in the month of June, receipts from mineral and agricultural commodity remained relatively high, Kenanga said."Malaysia's trade performance took a breather in June though surprisingly higher than what we had expected as receipts from mineral and agricultural commodity remains relatively high," it said."While the year-on-year growth in exports (18.4 percent) was above our estimate (14 percent), it was within consensus expectation," it added.-- BERNAMA
Tuesday, October 28, 2008
Matrade bags Islamic Solidarity Prize
Businsess Times
MALAYSIA External Trade Development Corp (Matrade) has been awarded the Islamic Development Bank's "Islamic Solidarity Prize" for its efforts in promoting trade among the Organisation of the Islamic Conference (OIC) member nations.
Matrade chief executive officer Datuk Noharuddin Nordin accepted the award in Istanbul on Thursday. It was presented by Turkish President Dr Abdullah Gul."As a result of the Malaysian Government's vision to boost trade between OIC member states as well as to promote Islamic trade and commerce, Matrade has established a secured foundation of strategic programmes that will realise both the goals," Noharuddin said in a statement.
For the period January to August 2008, Malaysia's total trade with the OIC member nations rose 36.1 per cent to RM81.19 billion, compared with RM59.67 billion for the same period in 2007.
Friday, October 17, 2008
Matrade to focus on Asian markets in 2009
Matrade to focus on Asian markets in 2009
By Rupa Damodaranrupabanerji@nstp.com.my
ASIA, which accounts for 60 per cent of Malaysia's total exports, will be the major focus for trade promotion in 2009, said Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Noharuddin Nordin.
Between January and August this year, Asian markets including the Middle East contributed to more than 66 per cent of Malaysia's total exports.He said about 40 per cent of Matrade's trade promotion programmes in 2009 will be aimed at markets within Asia, with particular focus on the Northeast Asia and Asean markets.
Export growth contracted during the slowdown of 2001, but this time around the diversified markets will be a saving factor, he added.
China and India are projected to grow at nine per cent and seven per cent respectively, which will enable these economies to absorb exports not only from Malaysia but other nations as well."We will not neglect the traditional markets in North America, Europe and Japan as they still account for a large percentage of the exports. As such, any movement in these markets will still have a significant impact on the total export performance.
"Our objective is to at least sustain Malaysia's share and to continue to identify niches for growth," he said at a media briefing highlighting Matrade's promotional programmes for 2009.
Noharuddin was confident that Malaysian trade numbers would still be strong in 2008, possibly with double-digit growth since exports for the first eight months of the year have already seen a 16.1 per cent growth.
He said 2009 will be more challenging, with the global outlook pointing towards recession in some of the major economies."Despite that outlook, there are economies that will do relatively well, and we need to comb the global environment to increase exports. We need to look for small opportunities and aggregate them, to offset any negative impact to our main markets.
"The top five product sectors to be promoted are building materials, food, agricultural , automotive parts and components, medical and pharmaceutical and electrical and electronic (E&E) products.
Matrade will continue to organise its own trade fairs, the Malaysia Services Exhibition, Malaysia International Halal Showcase and International Trade Malaysia in addition to participating in international trade fairs to promote Malaysian products and services.
The services sector, which is seen as increasing in its importance to the Malaysian economy, will be one of the important focus areas for Matrade through comprehensive promotions, particularly for furniture, fashion and design products.
Oil and gas as well as health and medical care sectors will be promoted extensively while critically impacted sectors such as textiles and apparels will be stimulated through specialised marketing missions to Brazil and Mexico.
It will be holding the second Malaysian Services Exhibition in Dubai in March next year.
In terms of Malaysian exporters' capacity building, Matrade will also enhance the ability of the exporters to leverage on bilateral and regional free trade agreements.
By Rupa Damodaranrupabanerji@nstp.com.my
ASIA, which accounts for 60 per cent of Malaysia's total exports, will be the major focus for trade promotion in 2009, said Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Noharuddin Nordin.
Between January and August this year, Asian markets including the Middle East contributed to more than 66 per cent of Malaysia's total exports.He said about 40 per cent of Matrade's trade promotion programmes in 2009 will be aimed at markets within Asia, with particular focus on the Northeast Asia and Asean markets.
Export growth contracted during the slowdown of 2001, but this time around the diversified markets will be a saving factor, he added.
China and India are projected to grow at nine per cent and seven per cent respectively, which will enable these economies to absorb exports not only from Malaysia but other nations as well."We will not neglect the traditional markets in North America, Europe and Japan as they still account for a large percentage of the exports. As such, any movement in these markets will still have a significant impact on the total export performance.
"Our objective is to at least sustain Malaysia's share and to continue to identify niches for growth," he said at a media briefing highlighting Matrade's promotional programmes for 2009.
Noharuddin was confident that Malaysian trade numbers would still be strong in 2008, possibly with double-digit growth since exports for the first eight months of the year have already seen a 16.1 per cent growth.
He said 2009 will be more challenging, with the global outlook pointing towards recession in some of the major economies."Despite that outlook, there are economies that will do relatively well, and we need to comb the global environment to increase exports. We need to look for small opportunities and aggregate them, to offset any negative impact to our main markets.
"The top five product sectors to be promoted are building materials, food, agricultural , automotive parts and components, medical and pharmaceutical and electrical and electronic (E&E) products.
Matrade will continue to organise its own trade fairs, the Malaysia Services Exhibition, Malaysia International Halal Showcase and International Trade Malaysia in addition to participating in international trade fairs to promote Malaysian products and services.
The services sector, which is seen as increasing in its importance to the Malaysian economy, will be one of the important focus areas for Matrade through comprehensive promotions, particularly for furniture, fashion and design products.
Oil and gas as well as health and medical care sectors will be promoted extensively while critically impacted sectors such as textiles and apparels will be stimulated through specialised marketing missions to Brazil and Mexico.
It will be holding the second Malaysian Services Exhibition in Dubai in March next year.
In terms of Malaysian exporters' capacity building, Matrade will also enhance the ability of the exporters to leverage on bilateral and regional free trade agreements.
Thursday, October 16, 2008
Malaysia can maintain exports growth next year
Published: Thursday October 16, 2008 MYT 8:17:00 PM
Malaysia can mantain exports growth next year
By LEE KIAN SEONG
KUALA LUMPUR: Malaysia is able to maintain its double digit growth in exports in 2008 and possibly 2009 as well despite the slowdown in global markets, said the Malaysia External Trade Development Corporation (MATRADE).
Its chief executive officer Datuk Noharuddin Nordin said on Thursday the target was achievable as Malaysian exports have diversified, with major export markets that included fast growing economies like China, India, Russia, Latin America and Brazil.
A pick-up up in E&E exports (electrical and electronic products) to China, India and other countries had offset the slowdown in US exports, he said, adding that the total value for US exports had declined 8.4% for the first eight months.
The total export value for Malaysia had increased 16.1% to a total value of RM449.9bil for the first eight months this year, Noharuddin said, adding that double digit growth was expected to be maintained for the whole year.
“We hope the export market will achieve double digits growth next year but there might be a slowdown in terms of growth figures due to the global financial crisis,” he said after the a briefing on MATRADE’s external trade promotion work programme for 2009.
“We need to go to the countries which were less affected by financial crisis but without neglecting our traditional markets like North America, European Union and Japan,”
Noharuddin acknowledged that the growth in Asian markets was slowing down but pointed out that China and India were still expected to achieve 9% and 7% growth respectively this year.
Asian markets accounted for 66.4% of Malaysia’s total export for the first eight months this year compared with 63% in the previous corresponding period, he said.
He said the electrical and electronic (E&E) sector would remain the largest contributor to Malaysian exports this year. The sector contributed 38.2% to total exports in the first eight months.
“Although the growth for E&E products had dropped from the 43.9% that achieved last year ... the value was marginally up 0.9%,” Noharuddin pointed out.
On the 2009 trade promotion programme, Noharuddin said the programme would be aimed at markets in Asia, particularly in North East Asia and ASEAN markets.
Malaysia can mantain exports growth next year
By LEE KIAN SEONG
KUALA LUMPUR: Malaysia is able to maintain its double digit growth in exports in 2008 and possibly 2009 as well despite the slowdown in global markets, said the Malaysia External Trade Development Corporation (MATRADE).
Its chief executive officer Datuk Noharuddin Nordin said on Thursday the target was achievable as Malaysian exports have diversified, with major export markets that included fast growing economies like China, India, Russia, Latin America and Brazil.
A pick-up up in E&E exports (electrical and electronic products) to China, India and other countries had offset the slowdown in US exports, he said, adding that the total value for US exports had declined 8.4% for the first eight months.
The total export value for Malaysia had increased 16.1% to a total value of RM449.9bil for the first eight months this year, Noharuddin said, adding that double digit growth was expected to be maintained for the whole year.
“We hope the export market will achieve double digits growth next year but there might be a slowdown in terms of growth figures due to the global financial crisis,” he said after the a briefing on MATRADE’s external trade promotion work programme for 2009.
“We need to go to the countries which were less affected by financial crisis but without neglecting our traditional markets like North America, European Union and Japan,”
Noharuddin acknowledged that the growth in Asian markets was slowing down but pointed out that China and India were still expected to achieve 9% and 7% growth respectively this year.
Asian markets accounted for 66.4% of Malaysia’s total export for the first eight months this year compared with 63% in the previous corresponding period, he said.
He said the electrical and electronic (E&E) sector would remain the largest contributor to Malaysian exports this year. The sector contributed 38.2% to total exports in the first eight months.
“Although the growth for E&E products had dropped from the 43.9% that achieved last year ... the value was marginally up 0.9%,” Noharuddin pointed out.
On the 2009 trade promotion programme, Noharuddin said the programme would be aimed at markets in Asia, particularly in North East Asia and ASEAN markets.
Malaysia economy may grow 3.4% 2009
BT: Malaysia economy may grow 3.4pc in 2009
MALAYSIA'S economy may grow at the slowest pace in eight years in 2009 as the global financial turmoil triggers a worldwide economic slowdown, the Malaysian Institute of Economic
Research said.Southeast Asia’s third-largest economy may expand 3.4 per cent in 2009 after growing 5.3 per cent this year, the institute said in a report in Kuala Lumpur today.
The economic think-tank also said Malaysia’s budget deficit may exceed 5 per cent of GDP in 2008.“It is likely that growth would deteriorate in late 2008, as the Malaysian economy takes the hit from the knock-on effects of a flagging global economy,” the partially government-funded research institute said in a statement.
The outlook for the global economy is “turning increasingly dismal,” MIER said. Demand for made-in-Asia exports is weakening as growth in the region’s biggest markets in the US, Europe and Japan slows amid a global financial crisis.
The International Monetary Fund last week forecast the world’s advanced economies will expand next year at the weakest pace since 1982.Malaysia’s central bank said this week it’s ready to shift focus to boosting economic growth as inflation worries ease, forecasting the nation’s economy may expand as little as 4 per cent in 2009.
Economic growth will probably be between 5 per cent and 5.5 per cent this year, below the official 2008 forecast of 5.7 per cent, Governor Tan Sri Dr Zeti Akhtar Aziz said in an interview. - Bloomberg, Reuters
MALAYSIA'S economy may grow at the slowest pace in eight years in 2009 as the global financial turmoil triggers a worldwide economic slowdown, the Malaysian Institute of Economic
Research said.Southeast Asia’s third-largest economy may expand 3.4 per cent in 2009 after growing 5.3 per cent this year, the institute said in a report in Kuala Lumpur today.
The economic think-tank also said Malaysia’s budget deficit may exceed 5 per cent of GDP in 2008.“It is likely that growth would deteriorate in late 2008, as the Malaysian economy takes the hit from the knock-on effects of a flagging global economy,” the partially government-funded research institute said in a statement.
The outlook for the global economy is “turning increasingly dismal,” MIER said. Demand for made-in-Asia exports is weakening as growth in the region’s biggest markets in the US, Europe and Japan slows amid a global financial crisis.
The International Monetary Fund last week forecast the world’s advanced economies will expand next year at the weakest pace since 1982.Malaysia’s central bank said this week it’s ready to shift focus to boosting economic growth as inflation worries ease, forecasting the nation’s economy may expand as little as 4 per cent in 2009.
Economic growth will probably be between 5 per cent and 5.5 per cent this year, below the official 2008 forecast of 5.7 per cent, Governor Tan Sri Dr Zeti Akhtar Aziz said in an interview. - Bloomberg, Reuters
Malaysia export growth on track
By Rupa Damodaranrupabanerji@nstp.com.my
MALAYSIA and Indonesia are both sticking to the export growth targets this year, saying their diversified export markets within the region will mitigate any slowdown in external demand from the US.
International Trade and Industry Minister Tan Sri Muhyiddin Mohd Yassin said Malaysia has not changed its six per cent growth target for 2008, as it had diversified its portfolio of export destinations in recent years while exports to the US dwindled to about 16 per cent.
"The growth figure will still be positive but we are not going to revise it downwards because of the global slowdown," he said in Kuala Lumpur yesterday.
Muhyiddin was speaking at a media briefing after co-chairing the first Malaysia-Indonesia joint trade and investment committee meeting, a bilateral platform to address impediments as well as increase bilateral trade and investment flows.
Indonesian Trade Minister Dr Mari Elka Pangestu, meanwhile, said her country's 12.5 per cent export target was consistent with the 6.3 per cent GDP outlook for the republic this year.Between January and August, Indonesia's exports expanded by 30 per cent, with its non-oil and gas exports about 22.4 per cent."Like Malaysia, our markets are diversified to concentrate on growing markets like China and India and a number of other Asean countries.
"Mari Elka said Indonesia was keen to increase investments in Malaysia's services sector.
Trade between Malaysia and Indonesia exceeded RM39.1 billion in 2007.
For the first seven months of 2008, bilateral trade expanded by 23.6 per cent to RM25.7 billion compared with RM20.8 billion for the same period in 2007.
Yesterday's committee meeting, meanwhile, discussed among others a review of the 1970 Border Trade Agreement, which will be streamlined and aligned with other bilateral agreements.
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