KUALA LUMPUR: The International Trade and Industry Ministry (Miti) expects mid-tier companies to sustain the double-digit growth in exports this year amid a challenging economic environment.Its minister, Datuk Seri Mustapa Mohamed, said these companies’ exports rose to RM5.67bil in 2015 from RM4.15bil previously.“This translates to a 36.7% growth between 2014 and 2015. It was a successful first year of the programme. We hope to sustain that momentum,” he told reporters after a dialogue with 41 mid-tier companies in Kuala Lumpur on Monday.The companies are participants of Malaysia External Trade Development Corp’s Mid-Tier Companies Development Programme (MTCDP).The MTCDP, introduced in 2014, currently involves 152 companies from various sectors, including car parts and components as well as oil and gas.The mid-tier companies in Malaysia are defined as companies with annual revenues of between RM50mil and RM500mil in the manufacturing sector or between RM20mil and RM500mil in the services sector.Mustapa said the ministry would iron out challenges experienced by the mid-tier companies at the regional level.“For non-trade barries in Association of South-East Asian Nations (Asean), we need to have bilateral discussions. Although we have agreed in principle at the Asean level, there are still issues we should dealt with,” he said.On other matter, Mustapa said, the ministry was working towards achieving a modest increase in trade in the second half of 2016.“It is going to be tough but doable. In our view, when the economic environment is challenging, it is important for us to prioritise promotional efforts.“If the efforts to boost the economy and investments were to be reduced in a challening economic environment, we cannot generate economic growth,” he said.

Source: The Star October 10, 2016 13:18 UTC