International Trade and Industry Minister Darell Leiking will be leading a trade and investment mission to Washington DC, New York, Seattle, San Jose and San Francisco in the United States of America (US), from 1 April 2019 to 6 April 2019. Minister Darell will be joined by MITI’s Deputy Secretary General for Trade as well as senior officials of Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE) and InvestKL Corporation.
During the mission, Minister Darell is scheduled to meet with top officials in the US Trade Representative Office, Department of Commerce and the White House. These meetings are aimed to further cement Malaysia’s trade and investment relations with the US. In expanding partnership with the private sector, Minister Darell will be interacting with key business groups such as the US-ASEAN Business Council, US Chamber of Commerce and Pacific Northwest Aerospace Alliance as well as select companies in sectors such as electric and electronics, artificial intelligence, petrochemical, and information communication technology. Minister Darell will connect with strategic partners during a seminar on “Forging Stronger Economic Relationship between Malaysia and the US”. He will also be sharing his views with the American media during his interview sessions. In 2018, the US remained as Malaysia’s top trading nation in North America region and Malaysia’s third largest trading partner in the world at RM155.68 billion (USD38.57 billion, 8.3% share of Malaysia’s total trade). Exports to the US reached RM90.73 billion (USD22.48 billion), while imports from the US were RM64.94 billion (USD16.08 billion), both driven by manufactured goods. In term of implemented projects, the US remains as the second largest investors in Malaysia in sectors such as electric and electronics, medical devices, renewable energy and aerospace valued at RM74.01 billion (USD21.86 billion). Malaysian companies too have successfully ventured in the US in diverse sectors from entertainment and resort, oleo-chemical, industrial packaging, furniture to banking reaching over USD14 billion. Ministry of International Trade & Industry 1 April, 2019