GEORGE TOWN – The Malaysia–United States Reciprocal Trade Agreement (ART) is expected to accelerate Penang’s economic development, especially in the electrical and electronics (E&E), agriculture, and halal industries, said Penang Chief Minister Chow Kon Yeow.
Responding to a question during the state legislative assembly session, the Padang Kota assemblyman said the agreement opens broader opportunities for Penang’s E&E companies to enter the US market.
“It will also attract new foreign direct investments (FDI) and create more high-skilled job opportunities,” Chow said.
Strengthening Workforce Capabilities Through ART
Chow added that ART will enhance technical training programmes and improve the capabilities of Penang’s workforce to meet the needs of high-technology sectors. This is expected to support long-term, sustainable economic growth and strengthen Penang’s position as a global technology hub.
Agriculture Sector Benefits Despite Low Commodity Output
Although Penang is not a major national producer of agricultural commodities such as natural rubber, palm oil, or processed food products, Chow said the state will still benefit indirectly from ART.
These benefits include the development of innovative agricultural products, value-added processing activities, and access to more premium export markets.
Halal SMEs to Gain Tariff-Free Access to the US
In the halal industry, ART is expected to open tariff-free market access for Penang’s halal SMEs, enabling them to integrate into high-value global supply chains.
“Penang’s halal industry has strong growth prospects, particularly in ready-to-eat foods and food processing,” Chow noted.
He said the state government is reviewing several measures to strengthen the local halal ecosystem, including enhancing Jakim-aligned halal branding, increasing automation, improving production efficiency, and exploring new export destinations.
Penang Reinforces Its Position as a Strategic Global Hub
Chow emphasised that the state government, through InvestPenang, will continue to strengthen Penang’s economic resilience and industrial competitiveness.
“These initiatives reflect our determination to ensure Penang continues to play a strategic role in the global supply chain, enhance economic sustainability, and deliver tangible benefits to the people and the local business community,” he said.
Sumber : MALAYMAIL
