Bank Negara Malaysia’s Annual Report 2013 gave Malaysia an encouraging report for 2013.  The economy expanded by 4.7% in 2013 (2012 – 5.6%) driven by the continued strong growth in domestic demand, in spite of the continued economic weakness in the advanced countries, slower-than-expected growth in regional economies and the lower prices of Malaysia’s key commodities, that resulted in a marked decline in Malaysia’s exports.

The outlook for Malaysian economy in 2014 is expected to remain on a steady growth path, estimated to expand by 4.5% – 5.5%, driven mainly by domestic demand, growth in private investments, and supported by improvements in external demand, in turn, boosting our exports.  The underlying fundamentals of the Malaysian economy continue to remain strong.

As we enter the second quarter of 2014, we see global economic recovery gaining traction, especially in the U.S. and the Eurozone.  Barring unforeseen circumstances, Malaysia’s economy would benefit from the improvement in the global economic environment.  The regional economies and consequently the developing countries would also take the cue and benefit from the spin-offs from the improving global economy.

The South-South connections that have been built up over the years will enable us to strategically locate and access resources, labour and skills and technology that can give us the competitive edge.  MASSA will persevere in its efforts to highlight emerging trends and markets that can give Malaysian products and services the competitive edge.

We thank the Ministry of International Trade and Industry (MITI) Malaysia and its sister agencies Malaysia External Trade Development Corporation (MATRADE) and Malaysian Investment Development Authority (MIDA) and especially its offices in the developing countries for their close cooperation to highlight and feedback emerging trends and business opportunities for the benefit of our members.  We encourage members to avail themselves to the services and counsel of MATRADE and MIDA in their quest to seek new markets for their products and services.

We also value the relationships with the many Embassies and High Commissions of the developing countries that are based in Kuala Lumpur, Malaysia.  They have been a constant source of valuable economic information and business leads that have enabled our members to make successful inroads.

MASSA appreciates and needs the continuing support and cooperation of members and look forward to your participation.
 

Tan Sri Azman Hashim
President