Malaysia Needs To Take Proactive Steps To Maintain Trade Momentum: PM Najib

KUALA LUMPUR, Nov 25 (Bernama) -- Malaysia needs to take proactive steps to maintain the trade momentum to ensure continuous inflow of foreign investment and access to international export markets, said Prime Minister Najib Razak. In his official blog www.najibrazak.com, Najib said not maintaining international trade activities at a healthy level would further reduce Malaysia's national income. "That is why I am now very activley seeking investments and enhancing economic cooperation with other countries for two main reasons -- increasing investments and opening export markets for our country. "Alhamdulillah (Praise be to God), this effort is proceeding smoothly and Malaysia will continue to enjoy faster economic growth and create many employment opportunities for the people of Malaysia. This is crucial in raising the people's standard of living," he said. According to Najib, the country's national income had been reduced by about US$8.95 billion (RM40 billion) due to the fall in global crude oil prices. (US$1 = RM4.46) "In this era of globalisation, international trade is very important in driving the direction of the nation's modernisation," he said. The country's export sector, he said, is very vibrant, with our goods and services in high demand in international markets. "This has created a large volume of income and tens of thousands of employment opportunities. "However, we find that several advanced countries in the world like the United States and Britain seek to tighten their economic protectionism policies. "When this happens, many investors assume that the cash flow especially in Asian countries will begin to slow," he said, adding this will have spillover effects on the stock markets and currencies of many ountries, including Malaysia. -- BERNAMA