KUALA LUMPUR: Malaysia is on course to achieve total trade growth of between five-six per cent in 2014, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
He said broad recovery was seen in electrical and electronics exports while the trade surplus had become healthier in the first two months of 2014.
“We have done well in the first two months. The performance has exceeded that of the same period last year,” he added.
Mustapa was speaking to reporters after the launch of a book by former Deputy Prime Minister Tun Musa Hitam here yesterday.
The book, 21st Century Economics in the Muslim World, is a compilation of views on current economic issues of special interest to those following developments in the Muslim world.
Malaysia’s trade in 2013 expanded by 4.6 per cent to RM1.36 trillion from RM1.309 trillion in 2012, boosted by a better export performance.
The trade surplus last year amounted to RM70.63 billion.
It was the 16th consecutive year of trade surplus.
Mustapa said Malaysia’s traditional export markets, namely Northeast Asia and the Asean countries, remained important to the country.
“We have also been doing good trade with the Muslim world, such as the the Gulf Cooperation Council countries and in North Africa.
“We hope that conditions will become stable in the next few months and look forward to a revival in exports to the North African countries,” he added.
Meanwhile, Musa who is also Chairman for the World Islamic Economic Forum (WIEF) Foundation, said Islamic banking and finance is a relatively new industry in the global market.
“There is still a lot of work in progress, in terms of standardisation of rules and regulations.
There are a lot of seminars and discussions every other day or every week taking place.
“Participants are coming from all over the world and we are making reasonably good progress,” he added. — Bernama