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Maritime foreign trade, fishing industry contribute over 50% to Malaysia’s GDP, says Wee

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PETALING JAYA: More than 50% of the country’s gross domestic product (GDP) is generated through maritime foreign trade and the fishing industry, says the Transport Ministry.

Minister Datuk Seri Dr Wee Ka Siong said the economic value of Malaysia’s maritime sector is generated by a wide range of economic and resource-use activities.

“The South China Sea in particular has become increasingly vital – not only in terms of defence strategies but also towards the country’s economic development. “The Melaka Straits Patrol has also been recognised as a cooperation model among littoral states which is advocated in UNCLOS. “As such, Malaysia formulated a National Action Plan to prevent, deter and eliminate such practices in accordance with the United Nations Food Agriculture Organisation’s Plan of Action on IUU.

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Lol, Penang alone made up almost 60% of the entire countries E&E exports for January. Penang thriving!

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