Malaysia Minister Of International Trade And Industry Starts Trade Mission in The United States

Malaysian International Trade and Industry Minister
Malaysian International Trade and Industry Minister (Photo: Business Times)

April 2, 2019- Malaysian International Trade and Industry Minister, Darell Leiking has started his trade and investment mission to Washington DC, New York, Seattle, San Jose and San Francisco in the United States of America (US), from 1 April 2019 to 6 April 2019.

In his first stop in Washington DC, Darell met with more than 26 companies in a round table discussion which was hosted by the US-ASEAN Business Council and the US Chamber of Commerce.

The meetings provided opportunity in exchanging views to improve trade and investment relations, as well as understanding key concerns from both economies.

"Separate meetings with companies in the chemical and aerospace industry were also held. The US businesses were keen to understand about Malaysia's trade and business policies, as well as Malaysia's stand on various areas from free trade agreements, healthcare, digital economy, e-commerce to logistics", Darell said in a statement.

In term of implemented projects, the US is the second largest investors for Malaysia in medical devices, renewable energy, electric and electronics, and aerospace sector, valued at USD21.86 billion.

In 2018, the US remained as Malaysia's top trading nation in North America region and Malaysia's third largest trading partner in the world at RM155.68 billion (USD38.57 billion, 8.3% share of Malaysia's total trade).

Exports to the US reached USD22.48 billion, while imports from the US were USD16.08 billion, both driven by manufactured goods.

Malaysian companies have ventured in the US in diverse sectors such as industrial packaging, furniture, entertainment and resort, oleo-chemical, and banking reaching over USD14 billion.

During the mission, Minister Darell is scheduled to meet with top officials in the US Trade Representative Office, Department of Commerce and the White House.

These meetings are aimed to further cement the trade and investment relations for both countries.

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