KUCHING: In order to further boost Sarawak’s position as the preferred trading destination among international business partners, Ministry of International Trade and E-Commerce (MITeC) will continue to undertake initiatives so as to improve business relationship with its present trading partners.
Minister of International Trade and E-Commerce Dato Sri Wong Soon Koh pointed it is vital to sustain good ties with the present trading partners such as Japan, People’s Republic of China, Republic of Korea, Taiwan and Peninsular Malaysia in order to increase the business volume and capacity for the long run.
“As at September 2017, our largest trading partners and value of trade are Peninsular Malaysia (RM25.7 billion), Japan (RM22.1 billion), People’s Republic of China (RM11.4 billion), Republic of Korea (RM6.2 billion), Taiwan (RM5.1 billion), India (RM4.4 billion), Australia (RM2.6 billion) and Turkey (RM2.2billion).
“We will also continue to intensify our efforts to increase business value with our ASEAN neighbours which include Thailand (RM2.9 billion), Singapore (RM1.5 billion), Indonesia (RM1.4 billion), Vietnam (RM1.3 billion) and the Philippines (RM1.0 billion),” Wong said in his winding up speech for Ministry of International Trade and E-Commerce at the State Legislative Assembly Sitting here yesterday.
According to him, State’s international value trade last year had decreased from RM123 billion in 2015 to RM117 billion. “Our international value trade last year had decreased from RM123 billion in 2015 to RM117 billion. However, we are glad that Sarawak’s trade performance for January to September 2017 is now showing an upward trend.
“Sarawak exports as at September 2017 had breached the RM71 billion mark compared to only RM55 billion registered for the same period in 2016 and showing a sharp increase of almost 30 per cent.
“Until September 2017, the growth of our export to Turkey is up by 155 per cent, Thailand is up by 119 per cent; Netherlands is up by 47 per cent and India is up by 25 per cent and these promising figures had also shown an upward trend and a recognition given to Sarawak’s reputation as a good trading partner,” he explained.
