KUALA LUMPUR, April 5 ― Malaysia’s trade with the United States (US) is expected to remain positive this year, though growth may not be as robust as in 2017, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
According to the Malaysia External Trade Development Corporation, the country’s trade with the US grew by 16.3 per cent last year to reach RM22.12 billion.
“Electrical and electronics is the biggest component of trade with the US,” Mustapa said.
He was speaking to reporters on the sidelines of the 2018 Asia-Pacific Council of American-Chambers of Commerce (APCAC) summit here and after addressing the audience at the session on “Asean and Regional Trade Frameworks”.
Mustapa said Malaysia would continue to pursue bilateral ties with the US through the Trade and Investment Framework Agreement (TIFA).
On the US-China trade war, he also said there would be some impact as China is Malaysia’s biggest trading partner, followed by the US in third spot.
“We view this development with concern, and hope there would not be any retaliatory measures. Malaysia could be affected as the country is one the biggest exporters of solar panels to the US,” he added. ― Bernama
