AS Malaysia assumes the ASEAN Chairmanship in 2025, the nation has unveiled a forward-looking trade strategy focused on regional integration, sustainability, and collaboration with key global partners, including the BRICS bloc.
The Ministry of Investment, Trade and Industry (MITI), alongside the Malaysia External Trade Development Corporation (MATRADE), emphasised Malaysia’s pivotal role in strengthening ASEAN as a hub for trade and investment while leveraging its new partnerships to drive economic growth.
MITI Minister YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz highlighted Malaysia’s commitment to deepening economic cooperation within ASEAN.
The goal, he said, is to position the region as a global trade and investment hub by enhancing supply chain resilience, fostering digital transformation, and promoting sustainable growth.
“As ASEAN Chair, Malaysia is determined to strengthen regional ties and showcase ASEAN’s potential as a united economic powerhouse,” Tengku Zafrul said in a statement in Kuala Lumpur.
Key trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are central to Malaysia’s strategy. These frameworks, he noted, are essential for mitigating global trade disruptions and expanding market access for businesses across the region.
Malaysia is also focusing on trade diversification within ASEAN, targeting rapidly growing urban centers like Medan and Surabaya in Indonesia, and Da Nang, Hai Phong, and Can Tho in Vietnam.
Malaysia’s partnership with the BRICS bloc—comprising Brazil, Russia, India, China, South Africa, and new members such as Egypt, Ethiopia, and the UAE—underscores its ambition to strengthen its position in the Global South.
“This partnership is a significant milestone in Malaysia’s trade diplomacy. “BRICS offers vast opportunities for collaboration in green technologies, digital transformation, and infrastructure development. It positions Malaysia as a key player in fostering South-South cooperation,” said Zafrul.
Malaysia views its BRICS partnership as complementary to its ASEAN priorities, leveraging both platforms to enhance economic collaboration and trade opportunities.
Malaysia’s trade vision for 2025 is rooted in the principles of sustainability, technological innovation, and industrial competitiveness. Participation in Expo Osaka 2025 will serve as a platform to attract global investments and showcase Malaysia’s commitment to these goals.
MATRADE Chairman Datuk Seri Reezal Merican Naina Merican expressed confidence in Malaysia’s ability to lead ASEAN while achieving record-breaking trade milestones.
“This success is driven by collaborative efforts between the government, industry, and stakeholders. Together, we will ensure Malaysia’s trade performance reflects our shared vision for the future,” he said.
As both an ASEAN leader and a BRICS partner, Malaysia is poised to play a unique role in bridging regional and global trade priorities. By fostering cooperation between ASEAN and BRICS nations, Malaysia aims to drive trade, sustainability, and technological innovation across the Global South.
“We are entering an era where regional and global partnerships are crucial for economic resilience and growth. Malaysia is ready to embrace this challenge with optimism and determination,” Zafrul said. - January 27, 2025.
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