February 14, 2006 20:00 PM

Msia's 2005 Trade With Asean Expands 13.8 Pct To RM246.19 Bln

KUALA LUMPUR, Feb 14 (Bernama) -- Malaysia's strongest growth in trade last year was recorded with Asean countries, where it grew 13.8 percent to RM246.19 billion, Minister of International Trade and Industry, Datuk Seri Rafidah Aziz, said Tuesday.

The growth was attributed to the 15.4 percent growth in exports to RM139.21 billion and a 11.6 percent growth in imports to RM106.98 billion, she told a press conference, here Tuesday.

Asean accounted for 26.1 percent of the country's total exports last year from a 25.1 percent share in 2004.

"Growth in exports in Asean has been maintained at a relatively high level," she said.

Since 2002, exports have been growing at an average annual rate of 13.6 percent.

Singapore was Malaysia's largest trading partner, with exports to the island-republic rising 15.5 percent to RM83.3 billion, exports to Thailand increased 25.1 percent to RM28.7 billion while exports to Indonesia was up 7.7 percent to RM12.6 billion.

Rafidah said the major import sources were Singapore (RM50.83 billion), Thailand (RM22.89 billion), Indonesia (RM16.57 billion) and the Philippines (RM12.19 billion).

These countries accounted for 95.8 percent of Malaysia's imports from Asean.

Exports to the CLMV countries (Cambodia, Laos, Myanmar and Vietnam), also expanded. Collectively, exports to these countries rose 10.1 percent to RM5.8 billion last year.

In 2005, Malaysia's exports under the Common Effective Preferential Tariff (Cept) scheme -- the implementing mechanism for the Asean Free Trade Area -- rose 28.4 percent to RM11.1 billion.

Its exports under Cept were mainly to Thailand, Indonesia, the Philippines and Vietnam.

Electronic and electrical products remained as the major contributor to total exports to Asean countries accounting for a 42.9 percent share. Exports of these products increased by 7.2 percent to RM59.69 billion.

END
Good news, but still plenty of room for improvement. Looking at the CLMV countries particularly, it seems Malaysia has barely scratched the surface on trade with Vietnam.

Asean is market for 500 million population and very lucrative and growing. Asean market also very sophisticated people very easily adoptive adjust to new technology coming into market.
Actually Asean countries can easily take advantage and benefit among themselves trade within themselves. Good example here is how recently Malaysia and Thailand purchasing Aircraft design and manufactured by Indonesia.

I am looking forward Malaysian car will enter Indonesia market very soon, currrently Indonesian market still dominantly by local assemblying Japan brand car which quite expensive for most Indonesian pocket.

Ignore me.

June 29, 2006 12:28 PM
M'sia-S'pore's Trade To Surpass Last Year's S$96.1 Bln

KUALA LUMPUR, June 29 -- Malaysia and Singapore get more neighbourly on the business front with bilateral trade this year set to exceed last year's total trade of S$96.1 billion (RM221.03 billion).

Total trade between the two countries had reached S$42.7 billion (RM98.21 billion) in the first five months of 2006, said Singapore's Minister of State for Trade and Industry Lee Yi Shyan Thursday.

Speaking at the Third Malaysia-Singapore Business Forum here Thursday, he said "Malaysia remained Singapore's top trading partner within Asean, and overall the second largest trading partner after the US," said Lee.

Singapore has the highest number of approved manufacturing investment projects and third highest, in terms of value, of manufacturing investments in Malaysia so far this year.

In 2005, Singapore's total investment in Malaysia came up to S$1.3 billion (RM2.99 billion).

On another note, Lee suggested an increase in air connection between Malaysia and Singapore.

On a daily basis, about 70 flights fly both ways, carrying people back and forth between KLIA and Changi airport.

"Judging from the seat utilisation of the aircraft, I believe both airlines can carry more passengers between KLIA and Changi, bringing even greater economic spin offs to Kuala Lumpur and Singapore.

"Both countries should jointly pursue a more liberalised polic