BUTTERWORTH (April 12): Penang is actively diversifying and expanding its export markets to safeguard the sustainability of both the domestic and national economic chains.

Penang Chief Minister Chow Kon Yeow said the move is crucial amid the current global economic uncertainty, following the US' implementation of retaliatory import tariffs.

"During times like these, we must take more aggressive steps to empower local enterprises, and ensure a resilient and sustainable supply chain.

"I am committed to fulfilling my responsibilities as the chief minister by taking proactive and relevant measures that align with current needs, to support Penang’s economic and social development," he said at the Penang Aidilfitri Madani 2025 Celebration Ceremony at the Picca Convention Centre @Arena Butterworth on Saturday.

The event was attended by Prime Minister Datuk Seri Anwar Ibrahim, Human Resources Minister Steven Sim Chee Keong, Education Minister Fadhlina Sidek, and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.

Chow noted that the US was Penang’s second-largest export destination in 2023, accounting for RM76 billion or 17% of the state’s total export value.

He said the US remained Penang’s main trading partner, contributing to a trade surplus of RM57.7 billion last year.

"Although Penang was the nation’s top export contributor in February 2025, with a value of RM9.3 billion, the newly imposed tariffs are expected to have a significant impact," he said.

To mitigate the effects, Chow said the state had set up a Penang Tariff Monitoring Task Force, which would serve as a central platform to coordinate trade responses and engage with affected sectors, as announced on Friday.

The state-level Aidilfitri Madani 2025 celebration was jointly organised by the Penang government and the Ministry of Human Resources.

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