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Economy, Foreign Trade

northern Sumatra, mineral fuels, AFTA, Association of Southeast Asian Nations, southern Thailand

Export trade totaled $102 billion in 2000. Major exports include semiconductors and electronic equipment, petroleum and petroleum products, palm oil, wood and wood products, rubber, and textiles. The chief buyers of exports are the United States, Singapore, Japan, Hong Kong, the United Kingdom, Thailand, and Germany. Trade with China has expanded significantly. Imports were valued at $86 billion in 2000. The major imports were machinery and transportation equipment, manufactured goods, chemicals, mineral fuels, and food. The leading suppliers of imported goods are Japan, the United States, Singapore, Taiwan, Germany, the United Kingdom, South Korea. Malaysia is a founding member of the Association of Southeast Asian Nations (ASEAN) and is a full participant in the ASEAN Free Trade Association (AFTA), established in 1992 with the goal of nearly free trade among member nations in 15 years. The country is also part of the Southern Growth Triangle (SGT), which includes Singapore, Johor Baharu, and Indonesia’s Riau Archipelago; and part of the Northern Growth Triangle (NGT), which includes Pinang, southern Thailand, and northern Sumatra in Indonesia. The SGT and NGT are cooperative associations focused on increasing the economic development of their respective regions.

Article key phrases:

northern Sumatra, mineral fuels, AFTA, Association of Southeast Asian Nations, southern Thailand, major imports, NGT, Major exports, Pinang, manufactured goods, Export trade, member nations, palm oil, wood products, SGT, transportation equipment, semiconductors, petroleum products, South Korea, textiles, participant, Taiwan, founding member, electronic equipment, Japan, Hong Kong, Malaysia, rubber, economic development, Germany, chemicals, Singapore, goal, machinery, United States, food, United Kingdom, years


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