Japan, Malaysia's 4th Largest Trading Partner In 2015 -- Malaysian Minister

KUALA LUMPUR, March 15 (Bernama) -- Japan has been ranked as Malaysia's fourth largest trading partner after China, Singapore and the US in 2015, with bilateral trade amounting to US$30.77 billion (RM127.40 billion). Malaysian Minister of International Trade and Industry, Mustapa Mohamed, said the bilateral trade accounted for 8.72 per cent of Malaysia's total global trade. He said from 2009 to 2015, a total of 355 manufacturing projects with Japanese interests, with investments of RM33.06 billion and creating 39,959 jobs, had been implemented in Malaysia. "The Japanese investors are particularly well-represented in sectors such as electronics and electrical products, non-metallic mineral products, basic metal products, petroleum products, including petrochemicals, chemical and chemical products, as well as transport equipment. "In 2015, the ministry approved 60 manufacturing projects from Japan involving investments of almost US$1 billion," he told reporters after delivering a speech at the Japan-Malaysia Invest Symposium here Tuesday. The two-way trade between Malaysia and Japan reached RM127.40 billion in 2015, down by 7.2 per cent from RM137.33 billion in 2014. Exports to Japan decreased by 10.7 per cent to RM73.81 billion in 2015 versus RM82.62 billion in 2014 while imports dropped 2.1 per cent to RM53.59 billion compared with RM54.71 billion in 2014. Mustapa said Japanese investors should not see Malaysia only as an investment destination but also as a base and gateway to ASEAN region. "The region is home to a consumer market of over 620 million people with a combined gross domestic product estimated at US$2.5 trillion (US$1=RM4.11). "With the establishment of ASEAN Economic Community last year, we believe ASEAN is now a rising star and I encourage Japanese investors to invest in Malaysia," he said. He said Malaysian companies would work together with Japanese firms to promote halal industry in the Japan. Meanwhile, Chairman and Chief Executive Officer of Japan External Trade Organisation (Jetro), Hiroyuki Ishige, said the collaboration with Malaysia in promoting the halal industry in Japan would help attract more tourists from Muslim countries. "Over 250,000 Muslim tourists visited Japan in 2014 while in 2015, the number rose to 300,000 tourists. With the improved halal industry in Japan will attract more Muslim visitors to the country," he said. As a government-related organisation that worked to promote mutual trade and investment between Japan and other countries, Ishige said, Jetro would arrange business-matching meetings between Malaysian and Japanese companies on the collaboration in halal sector. -- BERNAMA