KUALA LUMPUR, Jan 19 — The Malaysian Consortium of Mid-Tier Companies (MCMTC) today said that the report on Malaysia’s trade performance in 2022 proves that free trade agreements benefit the country’s economic activities and raise living standards.
In a statement this morning, MCMTC president Callum Chen thanked the Ministry of International Trade and Industry for the ratification of the Regional Comprehensive Economic Partnership Agreement (RCEP) and Comprehensive Progressive Agreement for Trans-Pacific Partnership (CTPP).
“2023 is forecast to be a challenging year globally but MCMTC is confident that with our Unity Government’s strong support in setting strategic policies based on the input of the private sector, Malaysia will be able to come out stronger,” he said.
He also thanked International Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz for his acknowledgement of mid-tier companies’ contribution in his report on Malaysia’s trade performance for the year 2022 yesterday.
The MCMTC represents mid-tier companies from all sectors.
According to the MCMTC, mid-tier companies comprise 1.7 per cent of all companies in the country while contributing 39.9 per cent of Malaysia’s gross domestic product (GDP).
Yesterday, Tengku Zafrul announced that Malaysia’s trade performance last year registered its fastest growth since 1994.
He also said that trade surpassed the RM2 trillion mark for the second consecutive year.
