ALTHOUGH global trade is expected to hit a record US$32 trillion (RM138.6 trillion) in 2022, the outlook is rather gloomy for 2023 due to continuing geopolitical tensions, high energy prices, rising interest rates and persistent inflation, International Trade and Industry Minister Tengku Zafrul Abdul Aziz said.
However, he said, the Ministry of International Trade and Industry (Miti) and its agencies such as Malaysia External Trade Development Corporation (Matrade) are prepared to help industries and enterprises navigate challenges brought about by the expected slowdown in global economy and trade, which is key in the government’s efforts to raise the overall standard of living in the country.