KUALA LUMPUR: The government will place greater emphasis on promoting Malaysia as a safe investment destination, based on political and economic stability, pro-business policies, and its strategic location in Southeast Asia, said the Ministry of Investment, Trade, and Industry (MITI).
The ministry stated that this promotion would be strengthened through an export diversification strategy to expand Malaysia’s product range, particularly to new emerging markets in Central Asia, the Middle East, and Africa.
“Malaysia, as a trading nation, has consistently adhered to the principle of not aligning with any global economic bloc. The government believes that having more trade partners will contribute to the country’s economic development.
“Malaysia’s neutral stance in global geopolitics and economics, alongside balanced diplomatic relations with various countries, instils confidence in foreign investors, making Malaysia a stable and secure destination for their investments,” MITI said on the parliament website today.
The agency was responding to Senator Dr Wan Martina Wan Yusoff regarding the government’s plans and actions following the universal tariff policy and trade restrictions imposed on China, Mexico, and Canada, which may impact Malaysia and ASEAN countries.
The ministry also informed that the government would diversify and expand Malaysia’s export markets through the signing of new free trade agreements (FTAs) and would explore the potential of an FTA with the Gulf Cooperation Council (GCC) and other countries.
“At the bilateral level, the government will continue its diplomatic efforts using engagement, discussions, and strategic collaborations with the United States Department of Commerce and the United States Trade Representative Office.
“Malaysia will also remain active in multilateral forums and regional FTAs such as the World Trade Organisation (WTO), Asia-Pacific Economic Cooperation (APEC), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and Regional Comprehensive Economic Partnership (RCEP),” said MITI.
Tami Serna
Read More