US & Malaysia meet to strengthen trade relations

During the meeting, the US and Malaysia agreed to work together to address outstanding issues, including by establishing working groups related to goods, intellectual property, financial services, labour, and the environment. In addition, US officials met with US stakeholders in Penang and Kuala Lumpur, Malaysia.

The meetings were chaired by assistant US trade representative Barbara Weisel and ministry of international trade and industry secretary general J Jayasiri. Additionally, the delegation for the US included officials from USTR and the departments of state and commerce. US officials also met with Bank Negara Malaysia.

In 2016, the US had a nearly $25 billion goods trade deficit with Malaysia. US good exports totalled $11.8 billion, and its goods imports from Malaysia totalled $36.6 billon. In 2015, US services exports to Malaysia were $2.9 billion and US services imports were $1.8 billion. (KD)

Fibre2Fashion News Desk – India