Malaysia's Global Ties To Boost Investments, Exports -- PM Anwar
KUALA LUMPUR, Feb 4 (Bernama) -- Malaysia’s proactive approach in establishing ties with all countries, in line with the government’s neutral and independent stance, will help to create investment opportunities while boosting exports.
Prime Minister Datuk Seri Anwar Ibrahim said although the nation’s investment ties are seen to lean towards China, Brazil, South Africa, Canada and Mexico, its trade relations with the United States (US) continue as usual.
“The US remains an important trading partner. Trade with the US stands at 11 per cent, which is quite high, and Malaysia’s exports to the US are still close to 13 per cent,” he said during the Minister’s Question Time in the Dewan Rakyat today.
He said this in reply to a question from Lim Guan Eng (PH-Bagan) on Malaysia’s stance regarding the global trade war sparked by the US President’s tariff policies.
Lim also asked whether Malaysia would align itself with China, Canada, and Mexico, as well as financial and fiscal measures that would be taken to protect the Malaysian economy and its people from the impact of these tariffs.
“We cannot act too hastily as there are uncertainties in some of the decisions announced by the US President Donald Trump.
“For instance, there was a policy change just yesterday when he decided to delay the implementation of tariffs on Canada and Mexico. So, within a month, further policy shifts could happen, or the decision may be maintained,” Anwar said.
Aside from expanding its trade network, the Prime Minister stressed that the government must also ensure domestic growth initiatives are strengthened, in line with policies that have been announced, including the industrial, energy transition, and digital transformation plans.
The commitment of government-linked investment companies (GLICs) to inject RM120 billion into national development projects over five years is also expected to help drive economic growth.
“This will be complemented by several fiscal measures, including subsidy rationalisation, which will ensure sustainable growth and keep inflation under control,” he added.
— BERNAMA