MITI CONFIDENT OF ACHIEVING 2010 TARGETS

KUALA LUMPUR, Dec 20 (Bernama) -- The International Trade and Industry
Ministry (Miti) is on a good track to achieve its targets for this year,
Minister Datuk Seri Mustapa Mohamed said Monday.

"Generally, we are on track in terms of either investment or trade.

"Trade will increase 18 per cent compared to last year and national
investment is also on track," he said when met here.

His deputy, Mukhriz Mahathir, said Malaysia's external trade was expected to
reach RM1 trillion (US$1 = RM3.1)this year after easing to the RM900 billion
level in 2009 due to the global economic slowdown.

"In 2007 and 2008, we achieved RM1 trillion in trade. That's why our trade
was two times the size of GDP (gross domestic product)," he said, adding that
the country's trade was still growing rapidly especially after the signing of
several free trade agreements recently.

"What most encouraging is our trade with China where we have a substantial
surplus. This is because Malaysian exports to China are bigger than its
imports," he said.

Mukhriz also said the ministry was trying to strike a balance between
domestic and foreign investments. The present investment make-up is 60 per cent
foreign and 40 per cent domestic.

"So, we want to change it into 50-50 in 2011 and 2012, and after that we
want domestic investment to exceed foreign investment.

"We are identiying which countries, industries and companies to invest in
Malaysia.

"Previously, we focused more on the solar industry but there are many other
industries we consider important. For example advance electronics which we feel
there are many opportunities for us," he said.

Meanwhile, Mustapa said Malaysia had received positive responses
particularly from Gulf countries like Saudi Arabia and Qatar which were
interested to invest in Malaysia following a recent trade mission by Miti.

"They are keen on Malaysia. Saudi Arabia considers capital as one of its
biggest exports and they have told us that Malaysia is not getting a fair share
from this.

"So, they have suggested that we work harder to get investments from them,"
he said.

He also said Miti would start underlining its plans and vision for next year
from the second week of January.
-- BERNAMA