MSIAN EXPORTS MAY DOUBLE FROM EARLIER FORECAST

PETALING JAYA, March 2 (Bernama) -- Malaysia's exports are expected to grow
between 6 to 7 per cent in 2010, double the earlier forecast, as demand improves
in tandem with the global economic recovery.

Minister of International Trade and Industry Mustapa Mohamed said a higher
export growth is needed for the country to achieve the gross domestic
product(GDP) growth forecast of 5-6 per cent for this year.

"I am confident we can exceed our earlier target of 3.5 per cent in
exports for this year.

"If we want to be in line with the GDP forecast, we need to grow our exports
by at least 6-7 per cent, which is close to the historical figure of 7-9 per
cent achieved in a good year," he told reporters after opening the
Federation of Malaysian Manufacturers' National Export Conference 2010, here
Tuesday.

He said the recovering global economy would contribute to increased demand
for Malaysian exports such as electrical and electronic products, furniture,
rubber products as well as commodities.

Growth rates in major economies such as the United States, Europe and Japan
are expected to recover, but at moderate levels.

Emerging economies such as China and India would on the other hand, continue
to sustain their already high growth rates, he said.

Malaysia emerged from recession in the fourth quarter of 2009 with the GDP
expanding 4.5 per cent from the previous year.

Mustapa said indications are that, exports are gaining momentum, based on
the January numbers and an earlier 3.5 per cent forecast could be
easily exceeded.

The January figures will be released soon.

In 2009, exports were valued at RM553.3 billion (US$163 billion), a decline
of 16.6 per cent over 2008.

Mustapa said the government would continue to aggressively promote the
Malaysian brand overseas.

He disclosed that in 2010, the Malaysian External Trade Development
Corporation (MATRADE) would participate in 35 key trade fairs and mount
specialised marketing missions to 38 overseas export destinations.

In addition, a number of trade and investment missions to markets such as
the Middle East, China, Europe and the United States are also planned for the
year.

"As exports are expected to do much better this year, we also anticipate
better numbers in domestic investments as well as foreign direct investments,"
he added.
-- BERNAMA