Malaysia remains committed to rules-based international order, says Loke

The Star

Malaysia remains resolutely committed to a rules-based international order as the global economy becomes more fragmented, said Transport Minister Anthony Loke.  Speaking at the Malaysia-China Summit 2024 (MCS 2024) in Kuala Lumpur on Tuesday (Dec 17), Loke said the country’s openness has long been a cornerstone of its prosperity.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Malaysia's openness has long been a cornerstone of our prosperity.

00:09As the global economy becomes more fragmented, we remain committed to a rule-based international

00:16order.

00:17We will uphold the principles of free and fair trade, and continue to act as a bridge

00:23between nations, fostering dialogues and understanding.

00:27Guided by the medani economy, our new Industrial Master Plan 2030 and new investment policy

00:34have laid the foundation for sustainable growth.

00:38These initiatives embrace environmental, social and governance principles, and are designed

00:45to attract high-value investment that will secure Malaysia's place as a global leader

00:50in trade and industry.

00:53Already these efforts are bearing fruit.

00:56In the first half of 2024, we attracted RM160 billion in investment across key sectors,

01:05and by 2030, our manufacturing sector is projected to contribute RM587 billion annually to GDP.

01:13These numbers tell a story of resilience, ambition and belief in what we can achieve

01:20together.

01:22Malaysia's commitment to openness and cooperation extends beyond bilateral ties.

01:27We are firm believers in the power of globalisation, not as a source of division, but as a force

01:34for good.

01:36We see trade as a bridge that connects nations, innovation as a tool that uplifts life, and

01:43cooperation as the key to solving shared challenges.

01:49Our active participation in platforms like the China International Import-Export underscores

01:54this commitment.

01:56This year, Malaysia stood as a guest of honour, showcasing our dynamic industries and generating

02:03RM300 billion in trade prospects.

02:06Such achievements highlight Malaysia's growing competitiveness and its place on the global

02:11stage.

02:12But let us be clear, globalisation must benefit everyone.

02:17It must ensure that no one is left behind, and it must be guided by international best

02:22practices, so we are prepared to navigate the complexities of a changing world.

02:29Submits like this are about more than speeches, they are about action.

02:36They are about forging partnerships, embracing innovation, and investing in the industries

02:42of the future.

02:43To the leaders and investors here today, Malaysia welcomes more businesses.

02:48We are open to ideas, talent, and to collaboration, and we are ready to work with all of you to

02:55build a future defined by sustainability, innovation, and shared prosperity.

03:02As Malaysia prepares to assume the ASEAN Chairmanship in 2025, under the theme Inclusivity and Sustainability,

03:11we are committed to fostering a region where progress is equitable and opportunities are

03:17shared.

03:18Our vision is for ASEAN to be a beacon of stability, innovation, and unity in an ever-changing

03:27world.

03:28China has been a steadfast partner in ASEAN's journey.

03:32From transformative infrastructure projects to cutting-edge investment, Chinese companies

03:37have contributed to the region's progress.

03:41The next chapter of our collaboration, guided by the Five-Year Programme for Economic and

03:46Trade Cooperation between Malaysia and China, will unlock even greater potential in areas

03:52such as green technology and digital transformation.

03:56Ladies and gentlemen, this summit is not just a celebration.

04:11It is a celebration of this very special publication, His Excellency, Aung San Suu Kyi.

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