Malaysia is Germany's choice as a trade, export hub - MIDA | Malaysian Investment Development Authority
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Malaysia is Germany’s choice as a trade, export hub

Malaysia is Germany’s choice as a trade, export hub

26 Mar 2024

Germany has chosen Malaysia to be its export and trade hub, apart from China, the Dewan Rakyat heard today.

Prime Minister Datuk Seri Anwar Ibrahim said this comes after the trade war between the United States and China, which had impacted the global economy, especially to countries that export to China, including Malaysia.

“Germany’s policy is to de-risk, meaning to reduce risk and not rely on only one country, so they chose other countries (to trade with).

“So, at this moment, Germany has chosen Malaysia as their export and trade hub, apart from China, and this will help us.”

He said this in his reply to a supplementary question from Jimmy Puah Wee Tse (Pakatan Harapan-Tebrau), who had asked about how the trade war would affect Malaysia’s economic growth.

Anwar added that the Investment, Trade and Industries Ministry (Miti) had seen an increase in official visits from foreign trade ministers, including three this week.

He said the Madani government’s clear policies and stable politics made Malaysia an attractive destination for both domestic and foreign investors.

He said the success that the country achieved in attracting investment was a collaborative effort between Miti, the Foreign Ministry and the whole government machinery.

“Malaysia managed to do this because of our stable politics, and clear Madani Economy policies.

“We have a clear industrial plan, an energy transition plan, a digital transformation plan, and a food security programme.

“Secondly, it is because of the speed of approvals. There have been remarks that there is too much bureaucracy, so at the federal-level, only one agency, which is Miti, that will coordinate,” he added.

Source: NST