KUALA LUMPUR: Malaysia’s position, role and influence as a trading nation, straddling global trade routes and supply chains, is a trademark of its economic diplomacy, Prime Minister Datuk Seri Anwar Ibrahim said.
He noted that over the years, the government has worked to deepen economic ties with traditional trading and investment partners.
Anwar, who is also Finance Minister, said Malaysia has been at the forefront of efforts to streamline tariffs, improve market access and facilitate more equitable investment flows through existing free trade agreements, including the ASEAN Free Trade Area, the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
He said Malaysia’s future is inextricably linked to ASEAN.
“That is why ASEAN centrality, misgivings notwithstanding, must remain the cornerstone of our foreign policy and a primary platform through which we advance not only our interests, but also regional peace, prosperity and stability,” he said in his keynote address at the 39th Asia-Pacific Roundtable.
Anwar said Malaysia is also seeking to expand trade with newer, less leveraged markets in West Asia, Central Asia, Latin America and Africa.
“This is where economic diplomacy rides on geopolitics, yielding an ideal combination. Our approach is genuine collaboration in areas such as the halal industry, digital economy, agriculture and green technology.
“Above all, energy is strategically pivotal. Recently, during my official visit to Turkmenistan, Petronas signed agreements with state entities to explore and develop two major gas fields,” he said.
Anwar said this was coupled with the signing of a long-term hydrocarbon development framework between Malaysia and Turkmenistan, including cooperation on human and technical capital.
He said Malaysia’s goal is to strengthen existing partnerships, build new ones and keep its economic ties broad-based, resilient and forward-looking.
Anwar added that diversification is not merely an economic strategy but a national necessity in an increasingly uncertain global environment.
The three-day forum, held from June 30 to July 2, was organised by the Institute of Strategic and International Studies (ISIS) Malaysia. – Bernama