Tengku Zafrul: Malaysia can still hit 2025 GDP target of 4-5pc despite global slowdown
According to Free Malaysia Today (FMT), Tengku Zafrul said the country's growth outlook remains positive, even as global trade shows signs of slowing.
'If you look at our growth target, around four to five per cent, that will still be achievable,' he was quoted as saying.
He reportedly said that though a portion of trade activity may have been concentrated earlier in the year, the momentum was expected to continue in the coming months.
The latest trade statistics for June are reportedly scheduled to be released this Friday.
Commenting on discussions with the United States on tariffs, Tengku Zafrul reportedly said negotiations were progressing, with both sides reviewing areas involving tariff and non-tariff measures.
He also reportedly said there was room for flexibility in some sectors, with the possibility of lowering tariffs to below 10 per cent — highlighting the pharmaceutical and semiconductor industries.
According to the report, Tengku Zafrul said the US had raised concerns about limits on foreign ownership in key sectors, and that Malaysia was considering whether changes could be made.
'We need to consult those industries,' he reportedly added
However, he reportedly said that Malaysia would not agree to all proposals.
'Some of the requests we feel may not be fair to Malaysia,' he was quoted as saying
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