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US to boost trade and investment in Malaysia

US to boost trade and investment in Malaysia

15 Dec 2021

The United States (US) will continue to work closely with Malaysia to boost trade and investment in the country and in strengthening post-pandemic economy recovery, Secretary of State Antony J. Blinken said.

He said Malaysia has achieved impressive growth even during the Covid-19 pandemic and noted the critical role Malaysia has been playing in supporting resilient global supply chain.

Blinken said the US’ comprehensive Indo Pacific economic framework will boost more investment opportunities for a country like Malaysia, including in sectors such as trade and digital economy, technology, resilient supply chains, clean energy and infrastructure investments.

“We are identifying more investment opportunities for American firms. This week, we have seen US companies announcing significant new investment deals in Malaysia,” he said in a joint press conference with Foreign Minister Datuk Saifuddin Abdullah after a bilateral meeting at the latter’s office here Wednesday.

Blinken said the US is the second largest foreign investor in Malaysia, especially in the electronics sector.

“We are working closely with Malaysia, the third largest economy in Southeast Asia, and our second largest trading partner in the region, to strengthen post-Covid-19 economic recovery,” he said.

On the South China Sea, Blinken said the US and Malaysia agreed that all disputes must be resolved peacefully and in accordance with the international law, consistent with the United Nations Convention on the Law of the Sea (UNCLOS).

Blinken is on a two-day official visit to Malaysia as part of his maiden tour to three countries in the Southeast Asia region — Indonesia, Malaysia and Thailand. He arrived on Tuesday night.

Source: Bernama

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