KUALA LUMPUR: Malaysia seeks to maintain good ties with the United States (US), said Finance Minister II Datuk Seri Amir Hamzah Azizan.
“Malaysia has always been a good economic partner to the US. That’s why the US has always been among Malaysia’s highest foreign investors.
“We provide an environment where US companies are able to prosper. Intel has been in Malaysia since 1971. (Other companies have) been in Malaysia even longer, (some) since Independence,” the Minister said at the ASEAN Leadership Forum by Centre For Strategic and International Studies (CSIS) held in Washington, DC, on Friday.
He made these remarks when asked what a positive US-Malaysia economic relations would look like under President Donald Trump’s administration without a global trade war.
“So, what we want is the ability for us to continue with this (positive) relationship. Create a mechanism where both parties will gain in terms of opportunities to prosper within the space, can compete within the space to grow, to integrate what they have within Malaysia with their global supply chain. That’s a great outcome,” he said.
Amir Hamzah said he believes that such mutual understanding and approach is doable as both countries have consistently approached the partnership with mutual respect.
“I think it can continue to go down that path, because both parties treat each other with respect. Both parties work to integrate things along the way and work to a common outcome.”
The minister emphasised the importance of focusing on how to make the cake bigger, rather than getting caught up in arguments over how to divide the cake into little bits.
He said such an approach would add little value.
Reflecting on the longstanding relationship between Putrajaya and Washington, Amir Hamzah said their shared history has consistently enabled both sides to come together and make bigger cakes, rather than debating over portions.
On Malaysia’s approach over the 24 per cent reciprocal tariffs, Amir Hamzah said Malaysia has already started its discussions with the US on it.
“The good thing is, we have had our first conversation and the conversation was received well enough. Next is a number of steps that will have to come after that,” he said.
However, he acknowledged that a bilateral arrangement takes time.
“To lock up trade agreements, it takes a while -- to work through the technicalities -- but it starts with first conversation and first principles, and then continued dialogue to close the gaps.”
On April 24, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz had meetings with US Trade Representative Jamieson Greer as well as Secretary of Commerce Howard Lutnick in Washington, DC.
In a statement on the meeting, the Ministry of Investment, Trade and Industry said Malaysia stands ready to continue collaborating with the US to reach mutually agreeable solutions regarding the reciprocal tariff matter announced by President Donald Trump’s administration.
Malaysia has expressed its openness to negotiate with the US on four key areas, namely reducing the trade deficit; addressing non-tariff barriers; strengthening technological safeguards and security; and exploring a potential bilateral trade agreement.
