Malaysian Soft Exports To Maintain Double-Digit Growth This Year

From Nurul Hanis Izmir NANNING (CHINA), Sept 13 (Bernama) -- The Malaysia External Trade Development Corporation (Matrade) aims to maintain at double-digits this year, the growth in export of lifestyle products. This follows the debut of such products at the four-day 13th China-ASEAN Expo (CAEXPO) which began here Sunday. Abu Bakar Yusof, the Lifestyle Unit Director at Matrade said the export of lifestyle or "soft exports" including fashion, cosmetics, furniture, jewellery and accessories improved 13 per cent to US$9 billion (RM37 billion) last year, compared with 2014. "Export growth was at 10 per cent for first six months of 2016. We are thus confident of finishing on a higher note for this year," he told reporters on the sidelines of the CAEXPO. He said Matrade, the national trade promotion agency had been aggressively promoting Malaysian companies under the category, and to date, received positive response. "There is a strong buying tendency among Chinese consumers, especially for men's tailor-made suits, a service provided by our local companies. "They also like our batik products. Currently, Malaysian lifestyle products are mostly exported to countries like the United States, Japan, Singapore, Turkey, as well as the Middle East and now, China," he added. Abu Bakar also urged entrepreneurs to leverage on the online platform to better penetrate the Chinese market. Co-sponsored by China and the 10-member ASEAN, the CAEXPO was initiated to promote trade and bilateral relationships between both entities. Themed, "Building the 21st Century Maritime Silk Road, Forging an Even-Closer China-ASEAN Community of Common Destiny", CAEXPO will advance mutual investments between China and ASEAN in the key areas of industrial capacity cooperation and equipment manufacturing. China has reportedly vowed to promote free trade with ASEAN. Trade between it and the bloc reached US$472.16 billion in 2015, marked by a 58 per cent increase from 1991. --BERNAMA