Matrade: Exports Of Machinery, Appliances & Parts At 15 Pct This Year

KUALA LUMPUR, July 20 (Bernama) -- Malaysia External Trade Development Corporation (MATRADE) expects the exports of machinery, appliances and parts to achieve at least 15 per cent of total exports this year despite the soft market. Director of Products and Services Promotion Division, Md Silmi Abd Rahman, said the exports from this sector were higher at 20.5 per cent totalling US$8.97 billion (RM36.14 billion) last year compared with US$7.44 billion (RM29.99 billion) in 2014. (US$1 = RM4.02) From January-May 2016, the export value of the products amounted to RM16.62 billion versus RM14.06 billion in the same period last year. "We understand that with the current soft market, it is difficult to sustain exports, however, MATRADE remains confident of registering at least 15 per cent exports for this sector in line with the initiatives taken," he told reporters here Wednesday. Md Silmi said the ASEAN countries were Malaysia's biggest market and the corporation would continue to boost exports to these countries, especially Indonesia and Southern Thailand. MATRADE, he said, was also planning to participate in the machinery equipment fair to be organised in Indonesia next month as one of its moves to promote Malaysian products under that category in the republic. Md Silmi was present at Wednesday's press conference to promote the 27th Malaysia International Machinery Fair to be held on July 28-31, 2016 at the Putra World Trade Centre here. The event, which started in 1989 with 69 exhibitors, now attracts more than 1,000 exhibitors from several countries such as China, Taiwan, Japan, South Korea, Thailand, Germany and the United States. The four-day event is expected to maintain last year's visitor numbers of 12,000, with potential sales of US$200 million. -- BERNAMA