Malaysia-Japan Trade In 2014 Up 1.4 Pct

From Arul Rajoo Durar Raj TOKYO, May 25 (Bernama) -- Malaysia's total trade with Japan increased by 1.4 percent in 2014, reaching RM137.45 billion (US$42 billion), said Malaysian Ambassador to Japan Ahmad Izlan Idris. He said Malaysia recorded exports of RM82.71 billion (US$25.26 billion), an increase of 4.4 per cent, while imports from Japan dropped by 2.9 per cent to RM54.75 billion (US$16.74 billion). "Japan is Malaysia's third largest trade partner after China and Singapore, and they continue to be our top trade partners," he told Malaysian media covering Prime Minister Najib Razak's official visit to Japan. Ahmad Izlan said Malaysia's top exports include liquefied natural gas (LNG), electrical and electronics products as well as chemical-based products, while imports consist of electrical and electronics goods, machine components, and parts and accessories for vehicles. Japan is one of the top investors in Malaysia, with 2,510 projects worth US$22.7 billion implemented by its firms until Dec 31, 2013 creating 332,352 jobs, he said. From January to September last year, 47 projects by Japanese firms with investment of RM10.65 billion (US$3.26 billion) were approved, and are expected to create 6,874 jobs. Ahmad Izlan said some 1,400 Japanese firms are operating in Malaysia, and potential sectors include green technology, biotechnology, advanced electronics, as well as high-tech and automotive industries. Japanese tourist arrivals to Malaysia also saw an increase, reaching 553,106 last year, an increase of 7.8 per cent over the previous year. He said the 'Malaysia My Second Home' (MM2H) programme had also received good response with the participation of 3,456 Japanese between 2002 and 2014, the second highest after China. Some 5,500 Malaysians, including 2,250 students, are residing in Japan. --BERNAMA