KUALA LUMPUR, Jan 15 (Bernama) -- Malaysia consistently has new opportunities to strengthen its external trade relationships to mitigate the adverse effects of US trade barriers, according to the KSI Strategic Institute for Asia Pacific.
KSI deputy chairman Datuk Seri Mohamed Iqbal Rawther said Malaysia needs to diversify its trade partners rather than relying solely on single-source trading, to strengthen the country's economy.
He noted that such reliance limits the potential of globalisation, whereas Malaysia's historical foundation demonstrates its long-standing exposure to global trade.
“We are a trading nation. Notwithstanding what the US is saying in terms of tariffs and other restrictions, Malaysia is fortunate to be part of ASEAN and this year, Malaysia is the chair of ASEAN, so we have an overdrive kind of position.
“So, the trade within the region and the strong trading partnership that has been forged a very long time ago and further strengthened, this would be an advantage that continues,” he said at Bernama TV’s The Nation programme today.
On the potential implications of US trade policies, Mohamed Iqbal emphasised that Malaysia must remain aware of these ongoing developments, stating, "We cannot just ignore them".
He pointed out that Malaysia maintains a neutral stance in this context, adding, "If one door closes in some ways, many other doors are likely to open."
He said Malaysia strives to avoid direct involvement in these issues but acknowledged the ripple effects on other regions, including the Middle East and Europe.
He noted that trade wars, anti-globalisation trends, and the relocation of industries -- particularly from Europe to countries like China -- have significant global repercussions.
"This is something we need to carefully monitor and navigate in 2025. With global shifts underway, many economic policies are becoming increasingly protectionist," he added.
-- BERNAMA
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