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Malaysia sees little impact by Brexit

Xinhua, June 24, 2016 Adjust font size:

Britain's decision to leave the European Union (EU) would have little impact on Malaysia, officials said Friday.

Despite a period of volatility in financial markets is expected, Malaysia do not see a major impact on its economy, Prime Minister Najib Razak said in a statement.

He pointed out that Malaysia's economic exposure to Britain is limited, as it is not among Malaysia's top 10 trading partners and only accounts for about 1 percent of our total trade.

"With our sound fundamentals, diversified economic structure and ample liquidity in our financial markets, Malaysia is well positioned to face any volatility. I am confident that we will be able to weather this period of uncertainty," said the Malaysian Prime Minister, echoing the statement by the Malaysian central bank ahead of the British referendum. Endit