Malaysia's Trade Commissioner In New York Bullish About Trade With US

By Manik Mehta NEW YORK, Aug 29 (Bernama) -- Malaysia's Trade Commissioner here, Muhd Shahrulmiza Zakaria, is bullish about the two-way trade between the country and the US. Bilateral trade continued on its growth trajectory, recording US$16.67 billion (RM67.45 billion) in the first six months of 2016 and surged 12.5 per cent over the year-earlier period. (US$1 = RM4.04) "Yes, I am quite bullish about trade though I have also to be realistic to say that much will depend on the global economic growth and its impact on the US economy. "We have so far achieved a fairly impressive growth in our exports despite the indicators suggesting that challenges can lie ahead," he told Bernama here Monday. As the world’s biggest market, in value terms, in the haute couture arena, the US is an attractive destination for fashion wear suppliers from all over the world. Shahrulmiza said he was keen to attract American trade visitors and buyers to the coming Malaysia Fashion Week (MFW), which will be organised for the third consecutive year, at the Malaysian External Trade Development Corp (Matrade), Exhibition and Convention Centre in Kuala Lumpur from Nov 2 to 5, 2016. The event, jointly organised by Matrade and STYLO International, will present Malaysian and ASEAN lifestyle and fashion collections to global buyers and traders. Malaysia's exports of fashion and lifestyle products amounted to US$9.12 billion (RM36.91 billion) in 2015, up 13.2 per cent from US$8.05 billion (RM32.61 billion) in 2014. Exports of this sector were mainly to the US, Japan, China, Singapore, Turkey, Indonesia, India and Thailand. Malaysia has also set its sights on the car sector and wants to build up its position as an important hub for sourcing spare parts and components. Malaysian exhibitors are visible at major shows like the Automechanika in Frankfurt, Germany and the Automotive Manufacturing Meetings (AMM) in Detroit, US. A contingent of 18 Malaysian exhibitors of spare parts and components will be participating in this year's AMM 2016, besides participating in the networking sessions with local businesses and business associations. "The AMM in Detroit is being organised by the big three -- Chrysler, Ford and General Motors. "Matrade New York is organising the participation of the Malaysian exhibitors at the AMM event, which will be held in Detroit from Nov 15-17, 2016," Shahrulmiza said. He said his office here was targeting original equipment manufacturers tier 1 and 2 suppliers that formed the backbone of the supply chain for the industry. -- BERNAMA