Prime Minister Anwar Ibrahim says Malaysia is strengthening economic diplomacy by expanding trade ties and diversifying markets amid global uncertainty.
KUALA LUMPUR: Malaysia’s position as a key trading nation along global trade routes and supply chains remains a defining feature of its economic diplomacy, Prime Minister Datuk Seri Anwar Ibrahim said.
He said foreign policy, in practical terms, goes beyond diplomacy and international trade, as it directly shapes jobs, investment, technology, education and opportunities for Malaysians.
“Over the years, Malaysia has worked to deepen economic ties with traditional trading and investment partners,” he said.
“Utilising existing free trade agreements such as the Asean Free Trade Area (AFTA), the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Malaysia has been at the forefront in streamlining tariffs, improving market access and facilitating more equitable investment flows,” he said during his keynote address at the 39th Asia-Pacific Roundtable today.
At the same time, he said Malaysia is expanding trade links with emerging and less leveraged markets in West Asia, Central Asia, Latin America and Africa.
He said this reflects a form of economic diplomacy that is increasingly shaped by geopolitics, combining strategic cooperation with collaboration in key sectors 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 (Petroliam Nasional Bhd) signed agreements with state entities to explore and develop two major gas fields,” he said.
He said this was complemented by a long-term hydrocarbon development framework between Malaysia and Turkmenistan, including cooperation in human and technical capacity development.
Anwar said Malaysia’s priority is to strengthen existing partnerships, build new ones and ensure its economic ties remain broad-based, resilient and forward-looking.
“In an increasingly uncertain global environment, diversification is not just an economic strategy, but a national necessity,” he said.
He added that Malaysia’s foreign policy approach is “principled yet not constrained by rigidity, ambitious and bold without being reckless, and fiercely independent without forsaking the spirit of conviviality and collaboration.”
