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Too Early To Assess Impact Of Investments In Ukraine, Russia - Mustapa

[ 31-07-2014 ]
Too Early To Assess Impact Of Investments In Ukraine, Russia - Mustapa
KOTA BAHARU, July 20 (Bernama) -- It's still too early to assess the impact of the country's investments in Ukraine and Russia following the tragic crash of Malaysia Airlines' MH17's plane in Donetsk, eastern Ukraine.

Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said the impact could only be seen in months to come, especially in trade relations between Malaysia and the two countries.

"Like the MH370, what's obvious is that it affected the tourism sector. For MH17, it is too early to make an assessment.

"We will monitor the situation," he told reporters at the 'Meet the Press' session here Saturday night.

Last year, Malaysia-Russia exports were worth RM2 billion and imports RM3.7 billion. Malaysia-Ukraine exports were worth RM1.2 billion and imports RM513.5 million.

Meanwhile, Deputy Minister of International Trade and Industry, Datuk Hamim Samuri, said the ministry would take pro-active actions to ensure that the MH17 tragedy would not affect Malaysia's overseas trade.

He said the country recorded trade of over RM100 billion a month and the government hoped the tragedy would not affect it.

"We lost a plane four months ago and until now trade volume is still over RM100 billion like last year's, which is what we expected.

"So I believed the MH17 crash would not affect the trade value. The ministry will continue to monitor the situation," he said.

Hamim said this at a media briefing at Nasmir Holdings Sdn Bhd's Buka Puasa and contributions to the poor in Bukit Mertajam on Saturday night.

Nasmir is the country's sole producer of gelatine capsules.

-- BERNAMA