Latest news with #Tengku Zafrul Abdul Aziz
Malay Mail
04-08-2025
- Business
- Malay Mail
Tengku Zafrul: Malaysia makes trade concessions to US to keep exports flowing, protect 100,000 jobs
KUALA LUMPUR, Aug 4 — Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said Malaysia has agreed to a series of trade concessions in response to demands from the United States (US) to safeguard the country's export-driven economy and protect local jobs. He explained that the United States remains Malaysia's largest export destination, with exports reaching RM198.65 billion in 2024, and is also a major source of foreign investment, contributing RM32.82 billion to date. '..... Any changes in US trade policy cannot be taken lightly, as they could have a negative impact on Malaysia's economy. 'For example, it is estimated that up to 100,000 workers, particularly in Penang and Kedah, could be at risk of losing their jobs if electrical and electronic products can no longer be exported to the US due to high tariffs,' he told the Dewan Rakyat today. MORE TO COME
Malay Mail
01-08-2025
- Business
- Malay Mail
Malaysia reaffirms US$19b purchase of 26 Boeing jets as part of US trade ties, says Zafrul
KUALA LUMPUR, Aug 1 —Malaysia has reaffirmed its commitment to purchase a total of 26 Boeing aircraft in two phases, a deal estimated to be worth close to US$19 billion, said Minister of Investment, Trade and Industry Tengku Datuk Seri Tengku Zafrul Abdul Aziz. The purchase is part of ongoing commercial agreements with the United States and was highlighted during Malaysia's recent trade negotiations. 'We made some commercial commitments, which have already been announced, but we reinforced them. One is the Boeing aircraft purchase,' Zafrul said at a press conference at Miti headquarters today. He explained that the first phase involves 13 aircraft, valued at US$9.5 billion, with a second phase involving an additional 13 aircraft of similar value. 'We also committed to an additional 13 Boeing aircraft for the second phase — also valued around that. So those are some of the examples of our commercial commitments,' he added. The purchase signals Malaysia's continued support of bilateral trade ties and aerospace cooperation with the United States, amid broader negotiations on tariffs and market access. Zafrul did not specify which airlines or agencies were involved in the Boeing deals, but reiterated that such commercial undertakings are aimed at mutual benefit, creating downstream opportunities for Malaysia's aviation and maintenance, repair and overhaul (MRO) sectors.
