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Awang Tengah noted that with Malaysia assuming the Asean chairmanship, efforts are being made to enhance the bloc’s role in talks with the US, aiming to mitigate trade disruptions and safeguard regional economic stability.
KUCHING (May 28): Sarawak maintained strong trade relationships with its major partners and recorded a trade surplus of RM16.8 billion despite facing challenges in the first quarter of 2025, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
The International Trade, Industry and Investment Minister stated that while trade volumes fluctuated, the surplus underscores the state’s economic resilience and ability to adapt to shifting global trade dynamics.
“Sarawak is expected to face minimal direct impact from the United States (US) reciprocal tariff.
“However, increasing trade tensions and uncertainties could pose risks to external trade and domestic demand.
“Nevertheless, Sarawak’s trade ties with key Asian economies remain robust, underpinned by Free Trade Agreements (FTAs) that help diversify and expand export markets,” he said when delivering his ministerial winding-up speech at the State Legislative Assembly (DUN) Sitting today,
Awang Tengah noted that with Malaysia assuming the Asean chairmanship, efforts are being made to enhance the bloc’s role in talks with the US, aiming to mitigate trade disruptions and safeguard regional economic stability.
“Concurrently, Sarawak is intensifying its global trade engagement, particularly with the European Union and Middle East.
“By leveraging regional agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Asean-China Free Trade Agreement, the state aims to penetrate new markets.
“In line with this, local small and medium enterprises are encouraged to optimise resources, enhance efficiency and explore trade opportunities through business-matching initiatives,” he added.
Awang Tengah emphasised that Sarawak’s trade continues to be a key driver of economic growth, demonstrating resilience amid global uncertainties.
“The state’s major trading partners remain Japan, China, South Korea and India,” he said.
Awang Tengah said for 2024, exports grew by 2.3 per cent to RM133.8 billion, driven mainly by natural gas, crude petroleum and vegetable oils.
“Imports, on the other hand, grew by 3.1 per cent to RM64.5 billion, fuelled by higher demand for petroleum products, motor vehicles and aluminium ore.
“This led to a 1.5 per cent expansion in the trade surplus, reaching RM69.3 billion, reflecting stable growth in Sarawak’s key traded goods,” he added.
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