PUTRAJAYA, Aug 1 (Bernama) — Progressive trade outcomes such as the United States\u2019 (US) decision to reduce tariffs on Malaysian exports will have positive ripple effects across multiple sectors, including construction and manufacturing, said Housing and Local Government Minister Nga Kor Ming.<\/p>\n\n\n\n
He said the move to lower tariffs from 25 per cent to 19 per cent, effective today, reflects growing confidence in Malaysia\u2019s economic governance and stands as a testament to the country\u2019s credibility as a reliable international trade partner.<\/p>\n\n\n\n
\u201cWe are grateful for this positive development. It sends a strong signal of trust in Malaysia\u2019s economic governance, policy reforms, and commitment to fair, rules-based trade.<\/p>\n\n\n\n
\u201cThe 19 per cent rate achieved without compromising our national sovereignty underscores Malaysia\u2019s maturity in international negotiations,\u201d he said in a statement today.<\/p>\n\n\n\n
Malaysia\u2019s exports of furniture, lighting signs, and prefabricated building materials were estimated at US$1.55 billion (approximately RM7 billion) in 2024.<\/p>\n\n\n\n
Nga added that the new rate is expected to further enhance market access and competitiveness.<\/p>\n\n\n\n
\u201cLower tariffs can facilitate greater access to quality construction materials and technologies at competitive prices, supporting our goal to build smarter, greener and more liveable homes and cities,\u201d he said.<\/p>\n\n\n\n
Meanwhile, Nga, who is also president of the United Nations Human Settlements Programme (UN-Habitat), said the outcome resulted from sustained bilateral negotiations led by the Ministry of Investment, Trade and Industry (MITI), under the leadership of Prime Minister Datuk Seri Anwar Ibrahim and the MADANI Government.<\/p>\n\n\n\n
He also welcomed the announcement that US President Donald J. Trump will visit Kuala Lumpur in October for the 47th ASEAN Summit.<\/p>\n\n\n\n
\u201cPresident Trump\u2019s presence in Kuala Lumpur will further cement the ASEAN\u2013US partnership. Malaysia looks forward to showcasing its progress in sustainable development, people-centric governance, and green urban transformation under the MADANI vision,\u201d he added.<\/p>\n\n\n\n
— BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
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