(Kuala Lumpur, 5th) UMNO Jerantut Member of Parliament Datuk Seri Jalaluddin stated that Malaysia should not confront major powers but should instead strengthen its own advantages, deepen regional cooperation, and formulate long-term policies.
He said that our country, along with others, is caught between the trade war between the United States and China, becoming innocent victims. However, he supports the Prime Minister's stance that our country adopts a moderate approach, maintaining its relationship with the United States while also strengthening cooperation with other countries.
He believes Malaysia should leverage its position as a neutral and free trade nation to attract foreign investors seeking to avoid geopolitical risks.
"Especially in the halal industry, Malaysia can serve as a 'gateway to trade' with Middle Eastern and Central Asian markets."
He reminded the government not to wait until the 90-day grace period given by the U.S. ends but to immediately initiate strategic deployments.
He said that although Malaysia is a small country, it plays an important role in the global trade system.
He also believes that the government led by Prime Minister Datuk Seri Anwar will adhere to the following three principles: defending national sovereignty as a foundation in maintaining international relations, keeping the economy robust, and safeguarding the interests of the people, especially the Bumiputera.
He said this is the best time for Malaysia to strengthen existing trade relations and explore emerging markets, therefore prioritizing the development of markets in ASEAN, the Middle East, Central Asia, and Africa, as well as strengthening bilateral trade agreements to reduce dependency on the U.S. market.
"Domestically, investment in the R&D and innovation ecosystem should be enhanced to improve long-term competitiveness."
Additionally, he urged the Minister of Investment, Trade, and Industry, Datuk Seri Tengku Zafrul, to disclose the conditions and suggestions presented by the U.S. representatives during negotiations with Malaysia.
He also stated that some believe if the U.S. increases tariffs, Malaysia could pivot to trade with other countries. However, in 2024, the U.S. is Malaysia's second-largest trading partner, after China.
He said the total trade between Malaysia and China in 2024 will reach 484.12 billion Ringgit, accounting for 16.8% of Malaysia's total trade. Exports to China amount to 187.67 billion Ringgit, while imports are 296.45 billion Ringgit.
"The total trade between Malaysia and the U.S. is 324.91 billion Ringgit, with exports of 198.65 billion Ringgit and imports of 126.26 billion Ringgit."
"The trade surplus with the U.S. is 72.39 billion Ringgit; whereas Malaysia has a trade deficit with China of 108.78 billion Ringgit. Therefore, I hope the government adopts a 'win-win' strategy in response to the issue of increased U.S. tariffs."
He said that our country, along with others, is caught between the trade war between the United States and China, becoming innocent victims. However, he supports the Prime Minister's stance that our country adopts a moderate approach, maintaining its relationship with the United States while also strengthening cooperation with other countries.
He believes Malaysia should leverage its position as a neutral and free trade nation to attract foreign investors seeking to avoid geopolitical risks.
"Especially in the halal industry, Malaysia can serve as a 'gateway to trade' with Middle Eastern and Central Asian markets."
He reminded the government not to wait until the 90-day grace period given by the U.S. ends but to immediately initiate strategic deployments.
He said that although Malaysia is a small country, it plays an important role in the global trade system.
He also believes that the government led by Prime Minister Datuk Seri Anwar will adhere to the following three principles: defending national sovereignty as a foundation in maintaining international relations, keeping the economy robust, and safeguarding the interests of the people, especially the Bumiputera.
He said this is the best time for Malaysia to strengthen existing trade relations and explore emerging markets, therefore prioritizing the development of markets in ASEAN, the Middle East, Central Asia, and Africa, as well as strengthening bilateral trade agreements to reduce dependency on the U.S. market.
"Domestically, investment in the R&D and innovation ecosystem should be enhanced to improve long-term competitiveness."
Additionally, he urged the Minister of Investment, Trade, and Industry, Datuk Seri Tengku Zafrul, to disclose the conditions and suggestions presented by the U.S. representatives during negotiations with Malaysia.
He also stated that some believe if the U.S. increases tariffs, Malaysia could pivot to trade with other countries. However, in 2024, the U.S. is Malaysia's second-largest trading partner, after China.
He said the total trade between Malaysia and China in 2024 will reach 484.12 billion Ringgit, accounting for 16.8% of Malaysia's total trade. Exports to China amount to 187.67 billion Ringgit, while imports are 296.45 billion Ringgit.
"The total trade between Malaysia and the U.S. is 324.91 billion Ringgit, with exports of 198.65 billion Ringgit and imports of 126.26 billion Ringgit."
"The trade surplus with the U.S. is 72.39 billion Ringgit; whereas Malaysia has a trade deficit with China of 108.78 billion Ringgit. Therefore, I hope the government adopts a 'win-win' strategy in response to the issue of increased U.S. tariffs."