Latest news with #ZafrulTengkuAbdulAziz
New Straits Times
7 hours ago
- Business
- New Straits Times
Trade growth in first half of 2025 proves strength of Malaysia's external trade
KUALA LUMPUR: The record cumulative trade value increase of 4.8 per cent to RM1.465 trillion for the first half of 2025 reflects the strength and resilience of Malaysia's external trade position. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the country also saw encouraging export growth to major markets such as the United States, the European Union, Taiwan and Mexico. "The Ministry of Investment, Trade and Industry (MITI) and the Malaysia External Trade Development Corporation (Matrade) remain committed to building a stronger trade ecosystem by diversifying export markets and strengthening trade relations through free trade agreements (FTAs). Let us expand Malaysia's global reach," he said in a post on the X platform today. Tengku Zafrul said the country's trade surplus surged to RM8.59 billion in June, compared to RM759.9 million in May 2025, marking the 62nd consecutive month of surplus since May of 2020. He said key factors driving exports in June included palm oil and palm oil-based agricultural products, which recorded double-digit growth for 15 consecutive months. "This was also supported by increased exports of machinery, equipment and parts, as well as electrical and electronic (E&E) goods," he added.
Barnama
9 hours ago
- Business
- Barnama
Trade Growth In First Half Of 2025 Is Proof Of Malaysia's External Trade Strength -- Tengku Zafrul
KUALA LUMPUR, July 21 (Bernama) -- The record cumulative trade value increase of 4.8 per cent to RM1.465 trillion for the first half of 2025 reflects the strength and resilience of Malaysia's external trade position. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the country also saw encouraging export growth to major markets such as the United States, the European Union, Taiwan, and Mexico. 'The Ministry of Investment, Trade and Industry (MITI) and the Malaysia External Trade Development Corporation (Matrade) remain committed to building a stronger trade ecosystem by diversifying export markets and strengthening trade relations through free trade agreements (FTAs). Let us expand Malaysia's global reach,' he said in a post on the X platform today.
The Star
3 days ago
- Business
- The Star
Can Zafrul rally BAM to glory with new tricks of the trade?
THERE is no such thing as a stroll in the park for Tengku Datuk Seri Zafrul Tengku Abdul Aziz. After all, being the Minister of Investment, Trade and Industry is no easy task, especially not when the United States is bent on imposing tariffs and other economic barriers. Cancel anytime. Ad-free. Full access to Web and App. RM 13.90/month RM 9.73 /month Billed as RM 9.73 for the 1st month, RM 13.90 thereafter. RM 12.39/month RM 8.63 /month Billed as RM 103.60 for the 1st year, RM 148 thereafter. Follow us on our official WhatsApp channel for breaking news alerts and key updates!
The Sun
6 days ago
- Business
- The Sun
MITI finds no proof of AI chips smuggling in Malaysia
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) has found no proof of high-performance artificial intelligence (AI) chips being smuggled into Malaysia, according to its minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz. He stated that MITI has been coordinating with enforcement agencies, including the police, Customs Department, and the Malaysian Communications and Multimedia Commission (MCMC), alongside industry stakeholders to verify the claims. 'So far, we have not found any (evidence). We have spoken to the United States (US) and big players to cooperate and work with us. If there is any evidence, we will definitely take action. The investigation continues,' he said during a press conference on MITI's second-quarter 2025 performance report. Tengku Zafrul noted that Malaysia's expanding data centre industry has driven significant demand for AI chips, raising concerns among international observers. 'I think that has raised some red flags because Malaysia has started to be a dominant player in the industry,' he added. Earlier this week, MITI introduced immediate export, transhipment, and transit controls for US-origin high-performance AI chips under the Strategic Trade Act 2010. The minister reiterated the government's commitment to maintaining a transparent and lawful trade environment. 'We want to ensure there is a responsible trade, and we are currently reviewing the listing of AI chips under the Strategic Item List (SIL). We also want to make sure that we are in compliance with international standards and obligations,' he said, stressing the need to prevent secondary sanctions affecting Malaysia's economy. - Bernama
Barnama
6 days ago
- Business
- Barnama
MITI Finds No Evidence Of AI Chips Smuggling -- Tengku Zafrul
BUSINESS KUALA LUMPUR, July 15 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) has not found any evidence of incidents relating to the smuggling of high-performance artificial intelligence (AI) chips, said its minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz. He said the ministry has been working closely with authorities such as the police, the Royal Malaysia Customs Department, the Malaysian Communications and Multimedia Commission (MCMC), as well as industry players to investigate the matter. "So far, we have not found any (evidence). We have spoken to the United States (US) and big players to cooperate and work with us. If there is any evidence, we will definitely take action. The investigation continues," he told a press conference on MITI's report card for the second quarter of 2025. According to Tengku Zafrul, the demand for AI chips in Malaysia has been high due to its growing data centre industry. "I think that has raised some red flags because Malaysia has started to be a dominant player in the industry," he said. On Monday, MITI issued a new directive imposing immediate controls on the export, transhipment, and transit of high-performance AI chips of US origin within Malaysia, under Section 12 of the Strategic Trade Act 2010. Tengku Zafrul emphasised that the government is committed to a transparent and lawful trading environment for all partners and investors. "We want to ensure there is a responsible trade, and we are currently reviewing the listing of AI chips under the Strategic Item List (SIL). "We also want to make sure that we are in compliance with international standards and obligations, he said, adding that it is to avoid secondary sanctions for the sake of the nation's industry and economy.
