PETALING JAYA: While geopolitical tensions between China and the United States and the European Union offer Malaysia opportunities to grow trade and investments, experts say consistent engagement with international partners is crucial to ensure such opportunities materialise.
“You must set the tone at the highest level about Malaysia’s openness for business and interest in foreign investment. So, there is absolutely no problem with the Prime Minister going on his various trip missions,” the former International Trade and Industry secretary-general told StarBiz. She stressed on the importance of having a presence and engaging with international business communities and policymakers to foster political and economic relationships.“It is important to be seen being on the ground, to get a feel about what perceptions businesses have towards Malaysia. It is important to have those interactions,” she noted.
For example in the electronics and electrical sector, he said Malaysia enjoys a competitive edge, boasting top-notch supporting services and networks in the region.When asked if Malaysia needs a free trade agreement or other deals with the EU or other economies to gain a competitive edge against its rivals, Nambiar said the country has attempted to sign an FTA with the EU multiple times, but failed.
On the impact of a potential Donald Trump’s second presidency term, Nambiar suggested it might escalate trade tensions with China, potentially redirecting investments intended for China to Malaysia.