Latest news with #tradeMinister
CNA
4 days ago
- Business
- CNA
Malaysia's economy projected to grow 4% to 4.8% this year, central bank says
KUALA LUMPUR :Malaysia's economy is projected to expand by 4 per cent to 4.8 per cent in 2025, down from a previous forecast of 4.5 per cent to 5.5 per cent, its central bank said on Monday, warning that trade and tariff uncertainties could affect global growth. Headline inflation is expected to average between 1.5 per cent and 2.3 per cent this year, Bank Negara Malaysia said in a statement. The central bank said the global economic growth outlook was affected by shifting trade policies and uncertainties surrounding tariffs. It said Malaysia's "updated growth projections account for various tariff scenarios, ranging from a continued elevation of tariffs to more favourable trade negotiation outcomes." Although Malaysia's economy remains on a "strong footing", the central bank said its growth projection remains subject to uncertainties surrounding the global economy. Malaysia is facing a 25 per cent tariff on its exports to the United States unless it can reach a deal with Washington by August 1. Malaysia's trade minister said several sticking points remained in the talks with the United States, particularly on non-trade barriers, but discussions were progressing well and were on track to meet the August deadline.
Reuters
4 days ago
- Business
- Reuters
Malaysia's economy projected to grow 4% to 4.8% this year, central bank says
KUALA LUMPUR, July 28 (Reuters) - Malaysia's economy is projected to expand by 4% to 4.8% in 2025, down from a previous forecast of 4.5% to 5.5%, its central bank said on Monday, warning that trade and tariff uncertainties could affect global growth. Headline inflation is expected to average between 1.5% and 2.3% this year, Bank Negara Malaysia said in a statement. The central bank said the global economic growth outlook was affected by shifting trade policies and uncertainties surrounding tariffs. It said Malaysia's "updated growth projections account for various tariff scenarios, ranging from a continued elevation of tariffs to more favourable trade negotiation outcomes." Although Malaysia's economy remains on a "strong footing", the central bank said its growth projection remains subject to uncertainties surrounding the global economy. Malaysia is facing a 25% tariff on its exports to the United States unless it can reach a deal with Washington by August 1. Malaysia's trade minister said several sticking points remained in the talks with the United States, particularly on non-trade barriers, but discussions were progressing well and were on track to meet the August deadline.
Reuters
09-07-2025
- Business
- Reuters
Reuters NEXT Malaysia trade minister says 'still optimistic' on U.S. trade
July 9 (Reuters) - Malaysia's trade minister Tengku Zafrul Aziz said on Wednesday that he was "still optimistic" on reaching a trade deal with the United States, with still a few more weeks to negotiate the final terms. Tengku Zafrul was speaking in an interview at the Reuters NEXT Asia summit in Singapore. To view the live broadcast of the World Stage go to the Reuters LIVE page:
Reuters
28-05-2025
- Business
- Reuters
UAE minister says trade talks with EU not a hurdle for deal between GCC and bloc
DUBAI, May 28 (Reuters) - The United Arab Emirates does not see bilateral talks for a free trade deal with the European Union as an obstacle to a similar agreement between the 27-nation bloc and the Gulf Cooperation Council, the UAE's trade minister said on Wednesday. "We're not seeing this as a hurdle, we are seeing it's a flow which is going to be starting from here and moving to the the blocs are much slower than the bilateral, and that's why we're starting here, so we can move quickly," Thani Al Zeyoudi told reporters. He said the UAE was keen to conclude a bilateral deal with the EU "in a very short period, three to six months from now." He was speaking in Dubai beside the EU trade commissioner Maros Sefcovic as the EU and the UAE officially launched talks. The UAE, an influential, oil-rich Middle East state, has long advocated deeper EU involvement in the Gulf region, with the GCC the EU's sixth-biggest export market. Since 2021, the UAE has initiated a raft of bilateral trade, investment and cooperation deals - called Comprehensive Economic Partnership Agreements - to reduce its dependence on fossil fuels and bolster long-term growth prospects. The EU and the GCC started trade talks 35 years ago but talks were formally suspended in 2008. Zeyoudi said bilateral talks that the UAE held with New Zealand and South Korea in the past had led to trade agreements with the GCC. He said the UAE also had the opportunity to start bilateral talks with the UK and that China had also approached the Gulf country for bilateral discussions, but said UAE would prioritise GCC talks.
Bloomberg
13-03-2025
- Business
- Bloomberg
South Korea Braces for Market Disruptions After Trump Tariffs
South Korea's Acting President Choi Sang-mok urged top policymakers to prepare for possible market disruptions after President Donald Trump proceeded with plans to apply 25% tariffs on global steel and aluminum imports. South Korea, a major metals producer in Asia, refrained from taking any immediate retaliation steps after the duties took effect Wednesday. Instead, Seoul sent its trade minister to Washington to accelerate negotiations with the Trump administration.
