KUALA LUMPUR: Trade and Industry deputy minister Liew Chin Tong believes that Malaysia can take advantage of the trade agreements that have been signed with other countries to strengthen manufacturing and increase exports.
He said a strong and robust manufacturing sector, particularly the Small and Medium Enterprise (SME), could sustain a good economy and employment for the country.
"Malaysia has the manufacturing sectors contribution to Gross Domestic Product (GDP) hovering around below 25 per cent and previously, we are at more than 30 per cent," he told the media at the CityPlus Business Outlook Forum 2023 here today.
He said Malaysia could also create and groom more local brands and increase the production of locally made products for the global market.
"We need to help industries, particularly SMEs, to grow and reach globally," he said, adding that the SME's expansion must be complemented with better technology and a quality workforce.
"If we produce better local products then we have the market access which will provide us with more benefits, and I am cautiously optimistic about the overall economy and SME sector for this year," he said. – Bernama
KW: Liew Chin Tong, trade agreement, export, manufacturing, advantage