RM550b Malaysian investments in foreign countries to increase

KUALA LUMPUR: A total of RM550 billion investments by Malaysian companies in foreign countries as of the first quarter of this year will continue to increase.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the investments would continue to increase once the Regional Comprehensive Economic Partnership (RCEP) is realised.
"RCEP will boost the investment of Malaysian companies overseas, especially in RCEP member countries namely China, India, Australia, Japan and South Korea," Mustapa told the Dewan Rakyat today.
He was responding to Datuk Rozman Isli (BN-Labuan), who asked the government to state the latest development in RCEP negotiations which began in 2013, and Malaysia's commitment to remain in the RCEP.
Mustapa said Malaysia is committed to helping finalise the RCEP by year-end, together with 15 other nations, with the aim of increasing economic trade in Asia.
Efforts towards this end, he said are being actively carried out, including the meeting in Hanoi, Vietnam, from May 21-22 this year.
Ministers and deputy ministers from Asean, Australia, New Zealand, China, Japan, South Korea and India attended the meeting.
The RCEP is being negotiated by the 10 South East Asian countries and China, Japan, South Korea, Australia, New Zealand and India.
It is expected to be the world's largest free trade deal as it will cover half the world’s population and, with a combined output that stood at US$22.7 trillion in 2014, almost 30% of the global economy.