Malaysia's Soft Exports To Grow By Five Pct This Year - MITI

KUALA LUMPUR, July 6 (Bernama) -- The Ministry of International Trade and Industry Ministry (MITI) expects Malaysia's soft exports to grow by five per cent this year, from the US$8.75 billion (RM37.65 billion) recorded in 2016. Deputy Minister Ahmad Maslan said the target was in line with the current robust growth of the the country’s gross domestic product (GDP) and upward momentum of the industry. Soft exports are exports of lifestyle products, including gifts and premiums, which have been gaining momentum in recent years and estimated to be worth about US$232.58 million (RM1 billion) to date. “Exports of gifts and premiums posted the second highest growth at 4.4 per cent, valued at US$1.34 billion (RM5.79 billion), and were mainly exported to Singapore, Japan, the United States, Thailand and Hong Kong,” he told reporters at the launch of the Malaysia Gifts Fair 2017 here, Wednesday. (US$1 = RM4.29) Ahmad said Malaysia had a large pool of talented lifestyle entrepreneurs, capable of moving onto the international stage. “As such, the Malaysia External Trade Development Corporation (MATRADE) is aggressively helping and supporting these entrepreneurs to promote their products globally,” he added. He said MATRADE conducts various programmes for entrepreneurs, including seminars and workshops, as well as “going export” (Go-Ex) programmes for exporters. He urged entrepreneurs to take full advantage of the programmes for their benefit. Meanwhile, on the three-day Malaysia Gifts Fair event, Ahmad said there are 420 local and international exhibitors, and some 12,000 visitors are expected to attend. "It is the largest gifts and premium fair in Malaysia and the ASEAN region. It also puts Malaysia on the world map for the gifts and premiums industry. "With a proven track record over the last eight years, the Malaysia Gifts Fair is the perfect platform for exhibitors to showcase their products, gain ample business opportunities and expand their business network,” he added. -- BERNAMA