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.
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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.
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NewsTranscript
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.