Malaysia focuses on expanding trade with EU, ASEAN
Malaysia is calling on the EU-ASEAN Business Council (EU-ABC) to work more closely to further explore the full potential of the country and the wider region, the country's Prime Minister Datuk Seri Ismail Sabri Yaakob has said.
Malaysia's PM Datuk Seri Ismail Sabri Yaakob. (Photo: www.businesstoday.com.my)
Kuala Lumpur (VNA) - Malaysia is calling on the EU-ASEAN Business Council (EU-ABC) to work more closely to further explore the full potential of the country and the wider region, the country's Prime Minister Datuk Seri Ismail Sabri Yaakob has said.
Despite the negative impact of the COVID-19 pandemic, Malaysia’s total trade with the EU grew by 26 percent to 180.2 billion ringgit (43.5 billion USD) in 2021, reflecting that the EU remains an important trading partner to Malaysia, he said during the EU-ABC AGM Gala Dinner in collaboration with EUROCHAM Malaysia on June 10.
Regarding the EU Strategy for Cooperation in the Indo-Pacific, Ismail Sabri said Malaysia welcomes initiatives by the European Commission to engage the Indo-Pacific region in establishing a more inclusive, multi-pronged and robust partnership between the EU and the region, through the EU Strategy for Cooperation in the Indo-Pacific.
The strategic framework will act as a catalyst to revive the economies in the region, he said, adding that this will strengthen the ASEAN market which lies at the crossroads of global economic interactions, while serving as a major gateway for businesses to enter the Indo-Pacific markets.
On the ASEAN-EU relations, Ismail said as a strategic partner to ASEAN, Malaysia is optimistic that the EU will continue to assume a vital role in the region's development including continuing to advocate for the ASEAN Community Vision 2025.
“It is noteworthy that despite the adverse impacts of the pandemic, the EU continues to be one of ASEAN’s most important trade and investment partners. With a total trade of 220.9 billion USD recorded in 2020, the EU was ASEAN's third-largest trade partner,” he was quoted by Bernama news agency as saying.
He reaffirmed that Malaysia remains resolute in its commitment to ensure that the country continues to be a business-friendly nation with greater certainty, accountability, efficiency and transparency in its initiatives and policies.
💖 Malaysia's parliament has approved a record budget for 2022, amounting to 332.1 billion ringgit (75.4 billion USD). It aims at bolstering post-pandemic economic recovery through three main pillars namely strengthening recovery, building resilience, and driving reforms./.
Malaysia’s inflation increased by 2.5 percent, driven by the rising food and fuel prices in 2021, the Department of Statistic Malaysia (DOSM) has said.
Malaysia's unemployment rate fell to 3.9 percent in April 2022 from 4.1 percent a month earlier, according to the Department of Statistics Malaysia (DoSM).
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
Malaysia's PM Datuk Seri Ismail Sabri Yaakob. (Photo: www.businesstoday.com.my) 
