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Barnama
15-07-2025
- Business
- Barnama
Malaysia's Trade Performance On Track To Hit Growth Target
BUSINESS KUALA LUMPUR, July 15 (Bernama) -- Malaysia's trade performance for this year remains within expectations and is on track to reach the target growth of four to five per cent, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Nevertheless, Tengku Zafrul said the Ministry of Investment, Trade and Industry (MITI) expects global trade to moderate in the second half of 2025 (2H 2025) amid ongoing uncertainties. "Yes, there is some front-loading, especially in the last five months, but at the same time, given the Aug 1 deadline (for US tariff), we expect the (moderation) to continue. "We are going to issue the latest trade numbers for June on Friday, and what is important is that Malaysia's trade performance is still within expectations," he told a press conference on MITI's report card for the second quarter of 2025. Tengku Zafrul noted that the projection by Bank Negara Malaysia for trade growth is around five per cent this year, while the Ministry of Finance has projected about 3.9 per cent. "We will continue to focus on achieving (those) targets," he said. Earlier during the report card presentation, Tengku Zafrul highlighted that the country has been gathering a total of RM25.6 billion in potential investments and RM30.8 billion in potential exports from the trade and investment missions held to date. Malaysia has also recently inked new free trade agreements with the European Free Trade Association (EFTA) in June, which is expected to reach a total of RM14.4 billion in trade with the EFTA market. Meanwhile, on the tariff negotiation with the United States, Tengku Zafrul said his ministry is now looking at tariff and non-tariff related matters that can be agreed upon by both parties. "I have set a deadline for the negotiation team, and there are issues that we still need time for because they involve many agencies and ministries. We are trying to conclude it before US President Donald Trump's tariff deadline on Aug 1st.
Malaysian Reserve
15-07-2025
- Business
- Malaysian Reserve
Tengku Zafrul: Malaysia's trade performance on track to hit growth target
KUALA LUMPUR — Malaysia's trade performance for this year remains within expectations and is on track to reach the target growth of four to five per cent, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (picture). Nevertheless, Tengku Zafrul said the Ministry of Investment, Trade and Industry (MITI) expects global trade to moderate in the second half of 2025 (2H 2025) amid ongoing uncertainties. 'Yes, there is some front-loading, especially in the last five months, but at the same time, given the Aug 1 deadline (for US tariff), we expect the (moderation) to continue. 'We are going to issue the latest trade numbers for June on Friday, and what is important is that Malaysia's trade performance is still within expectations,' he told a press conference on MITI's report card for the second quarter of 2025. Tengku Zafrul noted that the projection by Bank Negara Malaysia for trade growth is around five per cent this year, while the Ministry of Finance has projected about 3.9 per cent. 'We will continue to focus on achieving (those) targets,' he said. Earlier during the report card presentation, Tengku Zafrul highlighted that the country has been gathering a total of RM25.6 billion in potential investments and RM30.8 billion in potential exports from the trade and investment missions held to date. Malaysia has also recently inked new free trade agreements with the European Free Trade Association (EFTA) in June, which is expected to reach a total of RM14.4 billion in trade with the EFTA market. Meanwhile, on the tariff negotiation with the United States, Tengku Zafrul said his ministry is now looking at tariff and non-tariff related matters that can be agreed upon by both parties. 'I have set a deadline for the negotiation team, and there are issues that we still need time for because they involve many agencies and ministries. We are trying to conclude it before US President Donald Trump's tariff deadline on Aug 1st. 'We are doing the calculations as well on what the impact is to our export and the impact to the government's revenue as well. We will continue to have another discussion this week and accelerate the discussion until the end of this month,' he added. Tengku Zafrul noted that some concerns on non-tariff issues have been addressed by MITI through the implementation of the Strategic Trade Act 2010 (STA 2010), while 'red line' issues, such as those related to the equity interest in certain sectors, need to be studied carefully. 'As you know, Malaysia has equity restrictions for foreign shareholders for certain sectors, so there is a request for us to relook at or liberalise those sectors. Many countries have also been asked to do the same. 'For us, we need to consult the industries whether we are ready to liberalise those equity shareholding restrictions, especially when it comes to foreign equity restrictions that we have for many sectors. So we need to study carefully what the impact is,' he said. — BERNAMA
The Sun
15-07-2025
- Business
- The Sun
Malaysia trade growth on track for 4-5% target amid global uncertainties
KUALA LUMPUR: Malaysia's trade performance for 2025 is progressing as anticipated, with the government maintaining confidence in achieving its four to five per cent growth target. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz confirmed the outlook during a press conference on MITI's second-quarter report card. However, Tengku Zafrul cautioned that global trade is expected to slow in the second half of 2025 due to ongoing economic uncertainties. 'There is some front-loading, especially in the last five months, but given the Aug 1 deadline for US tariffs, we expect moderation to continue,' he said. The latest trade figures for June will be released this Friday, with the minister emphasising that Malaysia's trade remains within projected ranges. Bank Negara Malaysia forecasts trade growth at around five per cent, while the Ministry of Finance estimates a slightly lower 3.9 per cent. MITI has secured RM25.6 billion in potential investments and RM30.8 billion in potential exports from recent trade missions. Additionally, Malaysia signed a new free trade agreement with the European Free Trade Association (EFTA) in June, expected to generate RM14.4 billion in trade. Regarding ongoing US tariff negotiations, Tengku Zafrul stated that discussions are progressing, with a focus on both tariff and non-tariff issues. 'We are working to conclude talks before the Aug 1 deadline,' he said, adding that impact assessments on exports and government revenue are being conducted. Non-tariff concerns have been partially addressed through the Strategic Trade Act 2010, but equity restrictions in certain sectors remain a sensitive topic. 'We need to consult industries before liberalising foreign equity rules,' he explained. - Bernama
