SARAWAK is expected to experience minimal direct impact from the United States’ reciprocal tariff despite rising trade tensions and uncertainties, says Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
However, he said Sarawak’s trade ties with key Asian partners remains strong, supported by Free Trade Agreements (FTA) to diversify and expand exports.
“Malaysia as ASEAN chairman is leading efforts to strengthen ASEAN’s role in negotiations with the U.S. aim to mitigate disruptions and ensure regional economic stability,” he said in his ministerial winding up speech during the DUN sitting here today (May 28).
At the same time, he said Sarawak is deepening global trade relationships, particularly with the EU and Middle East, leveraging regional agreements such as RCEP and the ASEAN-China FTA to tap into new markets.
“Thus, local small and medium enterprises (SMEs) are encouraged to optimize resources, boost efficiency and explore trade prospects through business-matching initiatives,” he said.
Awang Tengah, who is also Minister for International Trade, Industry and Investment said Sarawak maintained strong trade ties with major partners and recorded a trade surplus of RM16.8 billion despite challenges in the first quarter of the year.
“While trade fluctuated, the surplus demonstrates the resilience of the economy and ability to navigate evolving global trade dynamics,” he said.
He added that Sarawak’s trade remains a key driver of economic growth, reflecting resilience amid global uncertainties with major trading partners Japan, China, South Korea and India.
In 2024, he said exports are expected to increase by 2.3 per cent to RM 133.8 billion, led by natural gas, crude petroleum and vegetable oils.
“While imports grew by 3.1 per cent to RM64.5 billion, boosted by petroleum products, motor vehicles and aluminium ore. The trade surplus expanded 1.5 per cent, reaching RM69.3 billion, indicating steady growth in key traded goods,” he said.
