Future fair: (From left) Tan, Gandhi and Goi show the future plan for a bigger-scale MIFF in 2018 during the MIFF 2016 pre-show press conference in Kuala Lumpur. Malaysia will stand to benefit from the Trans-Pacific Partnership Agreement (TPPA), as there would be fewer barriers for the export of Malaysian-made furniture to the United States, said United Business Media (M) Sdn Bhd (UBM) managing director M Gandhi. “The good thing about the TPPA is that it is not in conflict with the other free trade agreements (FTAs). “It is an addition to what we already have. “One of the biggest buyers of Malaysian furniture is the US, and it is part of the TPPA. “In fact, most furniture exports are to countries that are a part of the TPPA “Besides that, one of our competitors is China, and China is not part of the TPPA. So, Malaysia will be more competitive in exporting to the TPPA countries,” added Gandhi. The upcoming Malaysian International Furniture Fair (MIFF) 2016, which is t
Malaysia’s January 2016 exports fell 2.8% to RM61.9bil from a year ago, which was a disappointment when compared with a survey of a 2.5% increase.
The Statistics Department said on Friday on a month-on-month basis, exports also fell RM6.4bil (-9.4%) from RM68.3bil.
“In seasonally adjusted terms, exports decreased 7.4%,” it said.
The department said the decrease in exports was due to the decline in exports to Japan (-RM1.9bil), South Korea (-RM752.0mil), Taiwan (-RM512.6mil), Australia (-RM454.3mil) and Hong Kong (-RM346.8mil).
The decline in exports were due to liquefied natural gas (LNG) and crude petroleum though there was an increase in electrical and electronic (E&E) products and palm oil and palm-based products.
It said total January imports rose 3.3% to RM56.5bil from a year ago, below the survey of a 4.9% increase. The increase in imports was attributed to intermediate goods and consumption goods.
However on a month-on-month basis, imports fell RM3.6bil (-6.0%) from RM60.1bill. In seasonally adjusted terms, imports decreased 3.2%.
Malaysia recorded a trade surplus of RM5.4bil in January, down 39.8% from RM9bil a year ago.
“When compared with the previous month, it (surplus) also posted a decrease of RM2.9bil or 34.6%,” said the department.
source: theStar
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