Kuala Lumpur, Aug. 4 -- Malaysia has agreed to buy and invest over 240 billion USD (1.02 trillion MYR) in the US to help reduce the trade gap between the two countries.
Malaysian Minister of Investment, Trade and Industry Zafrul Abdul Aziz, told the parliament on August 4 that the commercial considerations helped secure a lower 19% US tariff, down from 25%.
The deals made between Malaysia and the US include the procurement of Boeing aircraft by Malaysia Aviation Group (MAG) worth 19 billion USD as part of a long-term and phased plan to renew and expand its fleet capacity. Multinational companies of Malaysia are set to procure goods in the semiconductor, aerospace, and data centre sectors worth a total of 150 billion USD over five years.
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