KUALA LUMPUR, Nov 7 (Bernama) -- Malaysia's trade with Asean countries has increased gradually following the country's strong participation in various sectors and new focus areas.
Standard Chartered Bank Malaysia Bhd Managing Director and Chief Executive Officer Osman Morad said Malaysia had ventured into new focus areas namely processed food, chemicals and chemical-based products, petroleum products and electrical and electronics equipment.
"Malaysia is the most active country in terms of intra-Asean trade amounting to US$116.03 million or 27.4 per cent of total trade for the January to August 2013 period," he told reporters at the Asean CEOs media briefing on Intra-Asean Trade here today.
Meanwhile, Standard Chartered Chief Executive Officer for Vietnam, Cambodia and Laos Nirukt Sapru said there was significant increase in trade between Malaysia and Vietnam in multiple sectors.
Among the expertise that Vietnam is seeking from Malaysia are in manufacturing, technology and mining sectors.
Asked on his comments on 2014 Budget tabled by Prime Minister Datuk Seri Najib Tun Razak, Osman said it was a good one and Standard Chartered remained positive with the announcements.
"It was good as it addressed all the key issues that we are hoping the government would address, especially the implementation of the goods and services tax (GST) to replace the sales tax and services tax and subsidy rationalization.
"This showed the government's bold and confident action in improving the country's fiscal deficit," he added.