Kuala lumpur: Malaysia should reform or recalibrate its response to changes in the global architecture, especially in trade, as they occur, said Malaysian Investment Development Authority (MIDA) chairman Tengku Datuk Seri Zafrul Abdul Aziz. He emphasized the necessity for the country to remain mindful of its strategic positioning as a middle power, leveraging its strengths while addressing concerns about energy security, technology, and overall resilience to remain part of both the United States and China's supply chain ecosystems.
According to BERNAMA News Agency, Tengku Zafrul shared these insights during a panel session at the CNBC Converge Live programme titled 'Redrawing The Global Trade Map,' hosted by Morgan Brennan. He highlighted the importance of Malaysia continuing its engagement with the US and China, as these economies account for nearly 30 percent of the country's total trade. While China is Malaysia's and ASEAN's largest trading partner, the US stands as Malaysia's largest investor and export market.
Tengku Zafrul stressed the importance of Malaysia's role as a trusted supply chain partner, given its strategic neutrality. He pointed out Malaysia's strengths in the semiconductor industry, digital economy, and energy sector, which, supported by consistent policies, help the country maintain its neutrality and relevance within global supply chains.
He also addressed the dynamic nature of global trade and the ongoing crisis in West Asia, expressing hope for consistent policies and strategic decisions that benefit Malaysia and the region in the longer term. On energy security, he noted Malaysia's strong position as a net energy exporter, which provides a firm economic footing.
Tengku Zafrul concluded by discussing Malaysia's optimistic capital markets, which have recorded a more than 10 percent year-on-year increase. This growth is supported by positive GDP growth, investment performance, stable unemployment, and fiscal and monetary policy flexibility. However, he cautioned against complacency, noting the reallocation of assets by companies and fund managers in capital markets and foreign investment for the longer term.