Malaysia Aims To Find New Export Mkts In US: Trade Min

Malaysia Aims To Find New Export Mkts In US: Trade Min
Asia Press
Kuala Lumpur

Malaysia will try to find new export markets in the U.S. and
Southeast Asia to offset the worsening economic downturn
following the terrorist attacks in the U.S., a top trade official
said.

The Malaysian government this week slashed its growth forecast
for 2001 to around 2 percent in anticipation of a global slowdown
made worse by the attacks. Electrical goods and components are
Malaysia's main export and the U.S. its biggest customer.

International Trade and Industry Minister Rafidah Aziz said
Malaysia would try to develop new U.S. markets away from the east
and west coasts, and aimed to double its exports to Southeast
Asian countries. She didn't give a timeframe.

Speaking to reporters late Wednesday, Rafidah said 25 percent of
Malaysia's total exports currently went to Association of
Southeast Asian Nations, or Asean, countries.

"With more than 500 million consumers in Asean, we have the
potential to increase exports within Asean itself," she was
quoted as saying by the Bernama national news agency.

In the U.S., Malaysia had concentrated too much on the heavily
populated east and west, leaving large potential markets
untapped, she was reported as saying.

"We will continue to export to the U.S. and will not reduce
exports because we do not want to lose our foothold there," she
was quoted as saying.

Rafidah said she would soon lead a trade mission to Shanghai
and Beijing to look for new export markets, and officials would
also work on developing new European markets.

She said that exports of computer chips and electronic
products will face problems because of expected falling demand
among U.S. electronic companies in the wake of the Sept. 11
attacks in New York and Washington.