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The trade value between Malaysia and the United States as well as the European Union (EU) increased from January until July this year compared to the same period last year amid the pandemic.
Deputy Foreign Minister Datuk Kamarudin Jaffar told the Dewan Negara today that trade value between Malaysia and the US rose 27.1% to RM121.01 billion within the period while the value with the EU rose 26.66% to RM79.94 billion. In 2019, Malaysia's trade value with the US stood at RM165.22 billion while with the EU it recorded a value of RM159.35 billion.
"The government is committed in strengthening the cooperation between Malaysia and both countries along with other ministries such as International Trade and Industry Ministry and the Ministry of Tourism, Arts and Cultural to ensure trade between Malaysia and the US as well as the EU continue to increase although the world is still battling with COvid-19 and declining economic situation," he said in response to a query from senator Datuk Zaiedi Suhaili.
a. Identify the benefit Malaysia and United States could get by involving in international trade.
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