MALAYSIA'S EXPORT PERFORMANCE IMPROVES 27.6 PCT FOR FIRST TWO MONTHS OF 2010

KUALA LUMPUR, April 5 (Bernama) -- Malaysia's export peformance for the
first two months of this year showed signs of recovery, in rising 27.6 per cent
compared to 2009, said Deputy Minister of International Trade and Industry,
Datuk Mukhriz Mahathir.

He said the country's exports is also expected to continue improving based
on a report by the World Trade Organisation (WTO), which showed global trade
will rise 9.5 per cent this year.

"The strategic renewal initiative under the New Economic Model(NEM)announced
by the prime Minister Najib Razak recently, will serve to enhance the
competitiveness of Malaysian companies and contribute to a rise in exports.

"One objective of this initiative, is to stimulate the private sector to
produce regional leaders through partnerships between government linked
companies and those in the private sector, along with the creation of an
aggressive network encompassing Asean, China, India and West Asia," he said in
response to a question from Dr Mohamad Shahrum Osman in Parliament here Monday.

Mohamad Shahrum had asked about the government's strategy to be implemented
towards efforts to improve Malaysia's position as a trading nation globally.

Mukhriz said among the strategies implemented to improve the position and
competitiveness of the country is diversifying exports, including enhancing
export services, diversifying the export market and increasing exports through
the adherence to international standards.

He said that the government's strategy has had a major impact on Malaysia's
trade performance.

He also disclosed that Malaysia's import and export total doubled, from
RM684.7 billion (US$201.38 billion) in 2000 to RM1.18 trillion (US$0.35
trillion) in 2008.

"The sharply deteriotating global economic conditions as well as a big
correction in the prices of commodities, resulted in a contraction of Malaysia's
exports in 2009.

"Following this, Malaysia's exports experienced a 16.6 per cent fall to
RM553.3 billion (US$162.73 billion) in 2009. The rate of decrease was not as bad
as earlier anticipated, which was 20 per cent," he explained.

Apart from that, Mukhriz said at present, the government was also giving
emphasis to the services industry for the purpose of exports.

He said the government had identified new opportunities or sources in the
services industry such as those related to manufacturing, engineering support,
education and training and health along with oil and gas in an effort to
diversify exports.

"Also, as stated by the Prime Minister in his speech at the recent Invest
Malaysia conference, there are lots of strategic growth sectors where Malaysia
had the potential to expand.

"We have our own strength in the ICT field, and also the creative industry,
that is, expertise in music, films, arts and culture," he added.

Mukhriz said the sector can become an important one for the country in
future and with a strong foundation in expertise in the fields of medicine,
scientific and manufacturing, Malaysia can also become a regional centre for
biotechnology and biology.
-- BERNAMA


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