KUALA LUMPUR, Oct 13 — Malaysia is expanding its global trade reach through new semiconductor and technology partnerships with emerging economies, said Investment, Trade and Industry Deputy Minister (Miti) Liew Chin Tong.
He said in a ministerial context, Malaysia will soon sign a Memorandum of Cooperation (MoC) on semiconductors with Brazil, while discussions are ongoing with India for a similar agreement that will also cover other industries.
“Similarly, in this context, we have strong relations with Bangladesh and Pakistan. These are markets we can further strengthen not only by exporting to them, but also by establishing technology transfer and technological cooperation with Brics nations and other developing countries,” he told Dewan Rakyat today.
He was responding to a supplementary question by Kubang Pasu MP Datuk Wira Dr Ku Abd Rahman Ku Ismail, who asked about the government’s effort to diversify export markets and trade strategies.
The deputy minister said this approach aligns with Malaysia’s long-term goal of diversifying export destinations and reducing dependence on traditional Western markets, particularly the United States (US).
He said the Madani government aims to open and strengthen Malaysia’s relations with Brics countries and other nations beyond the traditional Western markets that were once the country’s main export destinations.
“Malaysia may have to accept the reality that our dependence on the US as an export market could one day come to an end, as the US is no longer as willing to import as much from our country and other Asian nations.
“Therefore, we need new markets and new partners. This is the direction set by the Prime Minister (Datuk Seri Anwar Ibrahim), who has strengthened Malaysia’s ties with other countries, particularly within the Brics framework,” he added.
Liew also added that Anwar will visit the African continent in November as part of the government’s efforts to open new markets and build new partnerships.
