Malaysia aims to reduce reliance on imported raw materials to avoid impacts from global trade wars, particularly those involving the US, China, and Russia, says Investment, Trade and Industry Minister Tengku Zafrul. The strategy focuses on bolstering local industries and sourcing from ASEAN to secure supply chains. Malaysia also seeks to expand trade with non-traditional partners, pursue new FTAs, and strengthen existing ones, ensuring market stability and supporting growth amidst global trade complexities.NATION TO RELY MORE ON LOCAL AND REGIONAL SUPPLY
Malaysia aims to reduce reliance on imported raw materials to avoid impacts from global trade wars, particularly those involving the US, China, and Russia, says Investment, Trade and Industry Minister Tengku Zafrul. The strategy focuses on bolstering local industries and sourcing from ASEAN to secure supply chains. Malaysia also seeks to expand trade with non-traditional partners, pursue new FTAs, and strengthen existing ones, ensuring market stability and supporting growth amidst global trade complexities.
