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NewsPM says Malaysia’s resilient economy can withstand potential fund outflow
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PM says Malaysia’s resilient economy can withstand potential fund outflow
by Cals Thu 19 Sep 2013, 16:50
Published: Thursday September 19, 2013 MYT 12:32:00 PM
Updated: Thursday September 19, 2013 MYT 2:17:05 PM
PM says Malaysia’s resilient economy can withstand potential fund outflow
BY WONG WEI SHEN
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Prime Minister Datuk Seri Najib Tun Razak being interviewed by CNBC Martin Soong during The CNBC Summit Malaysia 2013 in Kuala Lumpur on Thursday.
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak said on Thursday Malaysia's resilient economy would be able to weather through any potential outflow of money from the country.
"Most of our debt is domestic and longer-term. Money is leaving, but we have reserves of US$130bil and our fundamentals are strong. Also, the resilience of the economy is much stronger than before," he said at the CNBC Asia-Pacific Summit.
In terms of the anticipated Trans-Pacific Partnership Agreement (TPPA), he said while the country is waiting to be get on board, there are many factors to consider.
"We want the TPP, but on our terms. It is still a work in progress... talks are starting but it'll be quite a tough negotiation. We will not forgo our national interests," he said.
On Malaysia’s exports, he added industries such as E&E should move up the value chain in terms of products so exports from the sector may increase.
Currently, commodities represent a third of Malaysia's total exports.
Updated: Thursday September 19, 2013 MYT 2:17:05 PM
PM says Malaysia’s resilient economy can withstand potential fund outflow
BY WONG WEI SHEN
[You must be registered and logged in to see this image.]
Prime Minister Datuk Seri Najib Tun Razak being interviewed by CNBC Martin Soong during The CNBC Summit Malaysia 2013 in Kuala Lumpur on Thursday.
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak said on Thursday Malaysia's resilient economy would be able to weather through any potential outflow of money from the country.
"Most of our debt is domestic and longer-term. Money is leaving, but we have reserves of US$130bil and our fundamentals are strong. Also, the resilience of the economy is much stronger than before," he said at the CNBC Asia-Pacific Summit.
In terms of the anticipated Trans-Pacific Partnership Agreement (TPPA), he said while the country is waiting to be get on board, there are many factors to consider.
"We want the TPP, but on our terms. It is still a work in progress... talks are starting but it'll be quite a tough negotiation. We will not forgo our national interests," he said.
On Malaysia’s exports, he added industries such as E&E should move up the value chain in terms of products so exports from the sector may increase.
Currently, commodities represent a third of Malaysia's total exports.
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