KUALA LUMPUR: Malaysia is set to reduce its dependence on imported raw materials to avoid being caught in the crossfire of international trade wars, says Tengku Datuk Seri Zafrul Abdul Aziz.
The Investment, Trade and Industry Minister said this strategy aims to shield the country from economic tensions, particularly those involving the United States, China and Russia.
Tengku Zafrul highlighted the government’s commitment to bolstering domestic industries and securing supply chains by prioritising the use of local resources and sourcing from Asean nations.
“The government will continue to encourage and emphasise the importance of local industries utilising domestic resources, especially to lessen our reliance on imports from countries engaged in trade war.
“Priority will be given to supply sources within the Asean region to ensure supply chain stability,” he said in the Dewan Rakyat on Tuesday (Oct 29).
He was responding to a parliamentary query from Datuk Seri Amirudin Shari (PH-Gombak).
Tengku Zafrul reaffirmed Malaysia’s stance of non-alignment with major economic powers, such as the US, China and Russia, in handling international trade disputes.
He stressed that the government is focused on strengthening diplomatic and trade ties with all countries, particularly through investment and trade missions, to explore new markets globally and deepen existing relations with key trading partners.
In addition, he said Malaysia plans to diversify its export markets, targeting non-traditional partners such as the United Arab Emirates, Saudi Arabia, and Central Asian nations like Kazakhstan and Uzbekistan.
“Emerging markets, including Oman, Kenya, and Egypt, which have shown significant export growth, will also receive increased attention,” Tengku Zafrul added.
He said the government is actively pursuing new Free Trade Agreements (FTAs), such as the Malaysia-UAE Comprehensive Economic Partnership Agreement and the Asean-Canada Free Trade Agreement, as well as upgrading existing agreements like the Asean-China Free Trade Agreement.
“These efforts aim to secure more stable and competitive export markets for Malaysia.”
Tengku Zafrul also said that recent high-level visits, including the Prime Minister’s visit to Russia in September, have opened new diplomatic and trade opportunities, further solidifying Malaysia’s participation in international platforms such as BRICS.
By prioritising local industries and diversifying trade relations, he said Malaysia aims to navigate the complexities of global trade tensions while ensuring the continued growth of its key sectors.
