Malaysia on Track to Achieve Export Growth of Five to Six Per Cent - MITI

KUALA LUMPUR, June 21 (Bernama) -- Malaysia is on track to achieve an export growth rate of five to six per cent for this year, despite weak dynamics across major importing nations, said International Trade and Industry Minister Mustapa Mohamed. "The initial numbers for May indicates that we are well within the target," he told a press conference after launching the SMIDEX 2012, Asean-India SME Conference and SME Week 2012, here Thursday. He said the May export figures will be released within the next few weeks. Exports contracted for the second consecutive month in April from the same month last year due to weaker electrical and electronics products, as well as the sale of commodities to developed economies, but is expected to rebound in the final quarter of 2012. Meanwhile, Mustapa said the three-day SMIDEX 2012 which began on Wednesday had recorded RM120 million (US$37.7 million) in negotiated sales yesterday. Last year, 178 business matching session materialised at the showcase event, with negotiations valued at RM194.7 million (US$61.2 million), he added. "We hope the numbers will increase this year, especially when the products and services could potentially be linked to renowned global players like Boeing Co, BAE Systems, international hypermarket chains and other big names," he added. Mustapa said over the years, the business matching sessions carried out between SMEs and their potential partners among multi-national corporations, government-linked companies and large companies looking for outsourcing opportunities, had generated nearly RM1.2 billion (US$377.3 million) in negotiated sales, with a total of 1,372 linkages. -- BERNAMA