Malaysia to engage with East Asian countries to address complex issues

Thursday 05 Dec 2024

SEOUL (Nov 26): Prime Minister Datuk Seri Anwar Ibrahim on Tuesday emphasised that it is essential for Malaysia to engage with East Asian countries, particularly South Korea, Japan and China, as they hold significant economic and strategic importance to the country.

Anwar said he believes that by fostering friendship and trust, Malaysia will be able to address more complex issues in the fields of education, research, public health, digitalisation, artificial intelligence (AI), military collaboration and maritime.

He said as an important trading nation, Malaysia has become a regional hub for global companies, including data centres and semiconductor hubs, demonstrating the country’s potential for further growth.

In his special address entitled 'Strategic Partners in a Complex World: Malaysia, Korea, and the Future of Asia' at the Seoul National University today, Anwar also stressed the importance of cooperation within Asean, describing it as one of the most peaceful and dynamic economic regions in the world.

“The collaboration and the working relationships among Asean leaders are excellent. I mean, I can just call any leader at any time and they will treat us like real friends, trusted friends. What is lacking is, of course, intra-Asean trade, investment, as well as more vibrant economic activities,” he said.

Therefore, Anwar said when Malaysia takes over Asean Chairmanship next year, he plans to prioritise initiatives such as the Asean energy grid, digitalisation and intra-regional trade and investment, aiming to strengthen the region's economic ties while working with East Asian partners like China, Japan and Korea.

Asked how Malaysia as Asean Chair in 2025, can address economic challenges and strategies related to US President Donald Trump's policies, particularly his tariffs toward China, Anwar said that it is no doubt that Trump's protectionist stance has significant consequences for international trade.

Given China's status as a major economic player, he said countries with strong trade relations with the republic like Korea, Malaysia, and Asean countries, would feel the effects.

“I hope for the best, which means there is a possibility of shift (in these policies to lessen negative effects). We know that a policy must be formulated to protect the interests of their own countries but I believe extreme protectionism will not help national economy,” he added.

Despite potential disruptions, the prime minister stated that the region’s economies, including Asean countries, are stronger and more resilient than before, and that while there may be short-term slowdowns, they should be able to navigate through challenges.

Uploaded by Lam Seng Fatt

Text Size