KUALA LUMPUR, March 2 — The Asean-China bilateral trade target of US$1 trillion is possibly achievable by 2025, said the China-Asean Business Association (Caba). President, Tan Sri Lim Gait Tong said both sides initially aimed to achieve the US$1…
KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) recently announced the appointment of Datuk Wan Latiff Wan Musa as its new chief executive officer (CEO) with effect from February 1. In a statement, Matrade said, he replaces Ir Dr Mohd Shahreen Zainoreen Madros who completed his two-year term as the CEO last month. Prior […]
KUALA LUMPUR, Aug 28 — Indonesia is confident of achieving bilateral trade target of US$30 billion with Malaysia by 2020, via various sectors, especially tourism and the proposed collaboration for an Asean car. In this…
KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) targets a five per cent increase in exports of lifestyle products this year from RM39.18 billion in 2017. Matrade Lifestyle and Life Sciences Section Director Abu Bakar Yusof said exports of these products have been growing steadily by five to six per cent annually over the […]
The past two months saw Malaysia taking the world by storm as it signs new bilateral trade agreements with strategic countries following the withdrawal of US from the Trans-Pacific Partnership Agreement (TPP). There seems to be no signs of slowing down as analysts anticipate Malaysia to continue being involved in more engagements and discussions […]
KUALA LUMPUR: The UK, which aims to be more outward-looking post-Brexit, is exploring ways to deepen and broaden its relationship with Malaysia, which may not require a free trade agreement (FTA).
“We discussed this morning how we might work together to ensure that there is even greater openness. Perhaps that does not require any FTA to provide those opportunities,” UK Secretary of State for the Department of International Trade Dr Liam Fox told reporters at the “Malaysia and Britain, Partners in a post-Brexit World” panel discussion yesterday.
“What we are looking for are ways in which we can get more liberalisation in economies more quickly and with greater agility; getting our economies to be able to respond quickly to changing circumstances, e-commerce and the digital economy being a good example. The more agile we are, the better,” he said.
While it is open to new FTAs, Fox said any new agreements with Asean will only be made after monitoring the development and growth of the region, and considering what sort of trading agreements are suitable.
“We are not saying not interested but for the UK, we have two years to get our trading sorted out at WTO, to be able to adopt 40 EU trading agreements with countries outside the EU into our law and to look at some new major potential FTAs. The US, New Zealand and Australia have expressed interest and now we have to focus on what will come after that once we actually leave,” he added.
Although the UK will only be able to sign any agreements at the end of the two years, Fox said it is already doing a lot of groundwork in preparation for any new potential agreements.
“We should identify some areas where we can promote closer cooperation and that may not come under the ambit of FTA. We both agreed that FTA is only a platform. It is good to have FTA but there are other possibilities to enhance bilateral ties including identifying some niche areas.”
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysia did not achieve its £8 billion (RM44.2 billion) trade target with the UK by 2016 and only managed to achieve £3 billion due to the impact of the global economy and commodity prices.
“For us, trade only expanded 1.5% last year so it is unreasonable for us to expect great growth in trade with the UK. But we need targets. That target was set 4-5 years ago and we should be working towards this target in the next few years,” he added.
Fox stressed that the UK will be more open and more globally focused post-Brexit as it recognises the opportunities presented by this region and the expectation that 90% of global growth will occur outside Europe in the next decade.
HANOI: An action plan for a Malaysia-Vietnam strategic partnership is expected to be completed in early 2017 in order to achieve a bilateral trade target of US$15 billion by 2020. “We have given out our inputs to the Vietnamese side. I think by early next year it can be finalised,” said International Trade and Industry […] Source: Borneo Post Online
KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) expects the exports of beauty products under the lifestyle industry to grow at least five per cent this year from last year’s RM1.124 billion. Chairman Datuk Noraini Ahmad said Matrade was confident of meeting the target following the number of initiatives provided by the government. “For […] Source: Borneo Post Online
SINGAPORE, March 7 — Asian stocks fluctuated, following the biggest three-week advance since 2009, as investors weighed China’s move to cut its economic growth target and a surge in US hiring that boosted optimism in the outlook for the world’s largest economy. The MSCI Asia Pacific Index slipped 0.1 per cent to 126.21 as of noon in Tokyo, swinging from a 0.3 per cent gain. US equities rose on Friday as investors shook off data showing a decline in wages to focus on a surge in hiring that bolstered optimism the economyRead More
TOKYO, March 7 — Japanese shares fell, after the Topix index capped its best three weeks since 2014, as investors weighed a surge in US hiring that came with negative wage growth and China set a weaker growth target for this year. The Topix lost 0.4 per cent to 1,371.82 as of 9.01am in Tokyo, with about eight shares rising for each that fell. The Nikkei 225 Stock Average slipped 0.4 per cent to 16,947.68. Friday’s US jobs report showed employers added 242,000 workers in February, more than projected, though wagesRead More