Despite the Chinese Ministry of Commerce warning of countermeasures against countries that align with the U.S. at the expense of Chinese interests, Minister of Investment, Trade and Industry Tengku Zafrul reiterated that Malaysia firmly upholds the principle of multilateralism.
He affirmed that whether Malaysia signs bilateral or multilateral agreements, the country's interests will always be prioritized.
“We want to ensure that Malaysian businesses, investors, exporters, and employees, especially the Malaysian economy, are protected from any decisions that could harm national interests.”
He made these remarks at a press conference after attending the Johor-Singapore Special Economic Zone (JS-SEZ) Joint Business and Investment Forum, responding to the aforementioned warning from the Chinese Ministry of Commerce today.
Zafrul pointed out that whether it involves China, the European Union, the Gulf Cooperation Council (GCC), or the United States, Malaysia considers participation and dialogue to be crucial.
He stated that Malaysia values fairness in international cooperation and upholds the principles of multilateralism through various platforms and organizations.
“No matter what agreements we reach with any country, we strive to provide the same treatment to other countries. This is also why ASEAN is working to upgrade its trade and goods agreements.”
He cited the ASEAN Digital Economy Framework Agreement (DEFA) as an example, explaining that ASEAN is also upgrading its free trade agreements (FTAs) with China and India.
Zafrul said Malaysia continues to engage with other countries and has resumed free trade agreement negotiations with groups such as the European Union.
The Ministry of Commerce held a press conference today in response to U.S. attempts to coerce other countries to restrict economic and trade cooperation with China through tariff measures.
The spokesperson stated that China firmly opposes any side making deals at the expense of Chinese interests, and if this occurs, will resolutely take reciprocal countermeasures. China has the determination and capability to safeguard its rights and interests.