Malaysia: Malaysia and Ukraine marked a new chapter in bilateral trade relations with the inaugural Malaysia-Ukraine Joint Trade Committee (JTC) meeting today, with discussions centered on key sectors, including agriculture, aerospace, sustainable palm oil, medical devices and tourism. The meeting, which was co-chaired by Deputy Investment, Trade and Industry Minister Liew Chin Tong and Ukraine’s Deputy Minister of Economy and trade representative Taras Kachka, set a solid foundation for expanding economic partnerships, against a backdrop of geopolitical challenges.
According to BERNAMA News Agency, Liew stated that the partnership between Malaysia and Ukraine will bolster bilateral relations and enable both countries to capitalize on the growing economic opportunities in ASEAN. He emphasized the importance of strengthening meaningful economic cooperation amid Ukraine’s current existential crisis due to the war, highlighting that fostering closer ties helps enhance the resilience of supply chains in light of
prevailing geopolitical tensions.
Kachka, who is on a working visit to Malaysia from Oct 31 to Nov 2, echoed Malaysia’s commitment to enhancing economic relations. He noted that Ukraine’s strengths in agriculture and space technology complement Malaysia’s growing needs and capabilities in these sectors. The Ministry of Investment, Trade and Industry expressed that the JTC meeting is expected to pave the way for greater economic and trade collaborations between the two nations, enhancing partnerships at both the government-to-government and business-to-business levels for the mutual advantage of Malaysia and Ukraine.
It was also reported that bilateral trade between Malaysia and Ukraine has shown promising growth, reflecting the strengthening economic ties between the two nations. The trade reached RM640.33 million from January to September 2024, marking a 151.2 percent increase compared to the same period last year. The Ministry highlighted this encouraging growth as a testament to the resilience and adapta
bility of both countries in seizing new opportunities for economic advancement.
