MALAYSIA REMAINS COMMITTED TO RULES-BASED INTERNATIONAL ORDER - LOKE

KUALA LUMPUR, Dec 17 -- Malaysia remains resolutely committed to a rules-based international order as the global economy becomes more fragmented, said Transport Minister Anthony Loke.

Loke said the country’s openness has long been a cornerstone of its prosperity.

"We will uphold the principles of free and fair trade and continue to act as a bridge between nations, fostering dialogue and understanding," he said in his keynote address at the Malaysia-China Summit 2024 (MCS 2024) here today.

Guided by the MADANI Economy, he said the New Industrial Master Plan 2030 and New Investment Policy have laid the foundation for sustainable growth. 

He said these initiatives embrace environmental, social, and governance principles and are designed to attract high-value investments to secure Malaysia’s place as a global leader in trade and industry.

"Already, these efforts are bearing fruit. In the first half of 2024, we attracted RM160 billion in investments across key sectors, and by 2030, our manufacturing sector is projected to contribute RM587.5 billion annually to gross domestic product.

"These numbers tell a story of resilience, ambition, and belief in what we can achieve together," he said.

The minister said Malaysia’s commitment to openness and cooperation extends beyond bilateral ties.

"We are firm believers in the power of globalisation, not as a source of division, but as a force for good.

"We see trade as a bridge that connects nations, innovation as a tool that uplifts lives, and cooperation as the key to solving shared challenges," he said.

Loke said Malaysia's active participation in platforms like the China International Import Expo underscores this commitment.

He said the country was the guest of honour at this year's Expo, showcasing its dynamic industries and generating RM300 million in trade prospects. 

As Malaysia prepares to assume the ASEAN Chairmanship in 2025, under the theme “Inclusivity and Sustainability,” he said the country is committed to fostering a region where progress is equitable and opportunities are shared. 

"China has been a steadfast partner in ASEAN’s journey. From transformative infrastructure projects to cutting-edge investments, Chinese companies have contributed to the region’s progress. 

"The next chapter of our collaboration, guided by the Five-Year Programmes for Economic and Trade Cooperation (2024-2028) between Malaysia and China, we will unlock even greater potential in areas such as green technology and digital transformation," he added. 

Meanwhile, QUBE Integrated Malaysia Sdn Bhd's executive chairman Richard Teo said that MCS 2024, themed “Prosperity Beyond 50,” represents the dedication of many partners, from government ministries, the corporate sector, and agencies to industry associations, chambers of commerce, and regional allies.  

He said MCS 2024 will host a three-day International Trade and Investment Expo, showcasing multi-sectoral exhibitors from Malaysia, China and beyond, looking to forge partnerships and explore investment prospects.

"We aspire to make this event a meeting ground for robust collaborations and exchange of ideas, cultures and values that will inspire the next generation of business leaders to continue shaping the future of the region," he said.

Teo also expressed his appreciation for the event sponsors, namely Huawei Technologies Malaysia as the gold sponsor, Kuok Brothers Sdn Bhd and Petroliam Nasional Bhd (Petronas) as the silver sponsor, Berjaya Food Bhd and DSR Taiko Bhd as the corporate sponsor, AirAsia as the official airline, and other strategic partners.

Bernama, with Star Media Group and Sin Chew Daily, are the official media partners for MCS 2024. 

-- BERNAMA