KUALA LUMPUR, Feb 26 (Bernama) -- The government is taking measures to mitigate the negative impact of global economic uncertainties on international trade by expanding export destinations and strengthening trade diplomacy, said the Ministry of Investment, Trade and Industry (MITI).
In a written reply published on Parliament’s website on Tuesday, the ministry said these measures are part of a strategy to ensure Malaysia’s economic resilience in facing geopolitical challenges and escalating trade wars in 2025.
MITI said Malaysia is reducing reliance on existing markets by diversifying its trade destinations to new markets in Central Asia, the Middle East, and Africa.
“The government is also expanding export market access through new free trade agreements (FTAs), including the Malaysia-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), which was signed earlier in 2025.
“Ongoing FTA negotiations include the Malaysia-European Free Trade Association (EFTA) FTA, the ASEAN-Canada FTA, and the Malaysia-Korea FTA, while negotiations for an FTA between Malaysia and the European Union will resume this year.
“The government is also exploring the potential for an FTA with the Gulf Cooperation Council (GCC) and several other countries,” MITI said when replying to Mohd Syahir Che Sulaiman (PN-Bachok), who inquired about the government’s steps to mitigate the adverse effects on Malaysia’s international trade caused by global economic uncertainty stemming from trade wars and geopolitical tensions in 2025.
The ministry emphasised that, in its efforts to maintain market access and trade stability, Malaysia is strengthening diplomatic ties and trade diplomacy through a soft diplomacy approach.
“Continuous engagement sessions are being held with the United States Department of Commerce and the Office of the United States Trade Representative to discuss mutual trade interests.
“Additionally, Malaysia’s participation in global and regional trade forums such as the World Trade Organization (WTO), Asia-Pacific Economic Cooperation (APEC), the Regional Comprehensive Economic Partnership (RCEP), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is opening up more trade opportunities and further solidifying Malaysia’s position as a progressive trading nation on the international stage,” it said.
MITI added that the government will continue to play an active role in strengthening trade diplomacy and exploring new strategic economic opportunities to ensure Malaysia remains competitive in addressing the increasingly complex challenges of the global economy.
-- BERNAMA
