ID :
86783
Thu, 10/29/2009 - 23:05
Auther :
Shortlink :
https://oananews.org//node/86783
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UN EXPECTS MALAYSIA'S EXPORTS TO RISE TO 2.98 PER CENT
By D. Arul Rajoo
BANGKOK, Oct 29 (Bernama) -- Exports from Malaysia is expected to rebound to
2.98 per cent in 2010 after plunging 11.70 per cent this year, according to a
new United Nations report.
The country's imports next year could also rise to 3.69 per cent after an
expected drop of 11.65 per cent this year, said the report launched Thursday.
The report, "Asia-Pacific Trade and Investment Report 2009: Trade-Led
Recovery and Beyond", showed that regional exports are forecast to rise by 6.3
per cent in 2010, and that the export-led model would remain important for the
region.
Japan, which saw a massive 26.23 per cent drop in export in 2009, is leading
the recovery next year with 8.82 per cent, followed by China with 8.40 per cent
(10.35 per cent in 2009) and Thailand at 6.07 per cent after plunging by over 17
per cent this year.
Noeleen Heyzer, executive secretary of the United Nations Economic and
Social Commission for Asia and the Pacific, said despite the expected upswing,
it was too early to declare "victory" despite many countries already out of
recession.
"Social recovery and employment will take longer. Figures shows unemployment
is still high," she said when launching the report here.
According to the report, the projected unemployment in Malaysia in 2010 was
4.0 per cent compared to 3.9 per cent this year, while Indonesia sees the
highest rate at 10 per cent, followed by the Philippines at 8.9 per cent and
India at 8.0 per cent.
Heyzer said one of the contributing factors to the early recovery from the
financial crisis was the various stimulus packages implemented by the
governments, but warned that there must be an exit strategy.
The appreciation of currencies in Thailand, Indonesia, South Korea and India
was also making their exports more expensive and reducing their competiveness,
she said.
Heyzer said the governments in the region should pay more attention on
intra-regional trade and reduce dependencies on the US and European markets,
adding that such a move could lift 43 million people out of poverty.
She also said that red tapes were hindering intra-region trade, with up to
15 per cent of cost being added to value of goods and making them more expensive
than products exported to other parts of the world.
Furthermore, Heyzer said, there are 151 regional trade agreements which she
considered as too many, overlapping and with lack of commitments by signatories
that often confuses the business sector.
-- BERNAMA
BANGKOK, Oct 29 (Bernama) -- Exports from Malaysia is expected to rebound to
2.98 per cent in 2010 after plunging 11.70 per cent this year, according to a
new United Nations report.
The country's imports next year could also rise to 3.69 per cent after an
expected drop of 11.65 per cent this year, said the report launched Thursday.
The report, "Asia-Pacific Trade and Investment Report 2009: Trade-Led
Recovery and Beyond", showed that regional exports are forecast to rise by 6.3
per cent in 2010, and that the export-led model would remain important for the
region.
Japan, which saw a massive 26.23 per cent drop in export in 2009, is leading
the recovery next year with 8.82 per cent, followed by China with 8.40 per cent
(10.35 per cent in 2009) and Thailand at 6.07 per cent after plunging by over 17
per cent this year.
Noeleen Heyzer, executive secretary of the United Nations Economic and
Social Commission for Asia and the Pacific, said despite the expected upswing,
it was too early to declare "victory" despite many countries already out of
recession.
"Social recovery and employment will take longer. Figures shows unemployment
is still high," she said when launching the report here.
According to the report, the projected unemployment in Malaysia in 2010 was
4.0 per cent compared to 3.9 per cent this year, while Indonesia sees the
highest rate at 10 per cent, followed by the Philippines at 8.9 per cent and
India at 8.0 per cent.
Heyzer said one of the contributing factors to the early recovery from the
financial crisis was the various stimulus packages implemented by the
governments, but warned that there must be an exit strategy.
The appreciation of currencies in Thailand, Indonesia, South Korea and India
was also making their exports more expensive and reducing their competiveness,
she said.
Heyzer said the governments in the region should pay more attention on
intra-regional trade and reduce dependencies on the US and European markets,
adding that such a move could lift 43 million people out of poverty.
She also said that red tapes were hindering intra-region trade, with up to
15 per cent of cost being added to value of goods and making them more expensive
than products exported to other parts of the world.
Furthermore, Heyzer said, there are 151 regional trade agreements which she
considered as too many, overlapping and with lack of commitments by signatories
that often confuses the business sector.
-- BERNAMA
