LIMA: The outcome of the United States election, which saw Donald Trump's victory, has a significant impact on countries like Malaysia, particularly in trade policy, according to Head of Investment Research at UOB Kay Hian Wealth Advisors Sdn Bhd, Mohd Sedek Jantan.
However, despite the ongoing trade pressure from the US on China, there is an expectation that Malaysia could benefit in the export sector if a trade understanding can be reached during two high-profile summits — the Asia-Pacific Economic Cooperation (APEC) meeting and the G20 Summit, both of which will be attended by Prime Minister Datuk Seri Anwar Ibrahim.
Mohd Sedek believes that a pro-business trade policy under a stable administration could make Malaysia the preferred destination for investment.
As a result, Malaysia's participation in both APEC and G20 is not only to represent the country's interests but also its role as Asean Chair in 2025.
With this year's APEC theme, 'Empower. Include. Grow', which focuses on sustainable growth and inclusive development in the Asia-Pacific region, Malaysia has the opportunity to align with ASEAN's theme, 'Forging Ahead Together', and maximize regional cooperation potential.
Mohd Sedek said that Malaysia's participation in APEC also presents vast opportunities in the technology sector, particularly in Artificial Intelligence (AI) and digitalisation.
"Through the National Semiconductor Plan, Malaysia can strengthen its role in the regional tech industry while enhancing the digital skills of its people. On the global stage, Malaysia has the potential to showcase more sustainable and competitive technology initiatives, which are expected to attract more foreign investments in this sector," he said.
Moreover, Malaysia should use the G20 summit to introduce the government's economic policies, as this platform allows Malaysia to engage directly with the world's major economic powers.
"This provides an opportunity for Malaysia to explain its economic policies and address any concerns that may arise. However, the membership of major economies in the G20 means Malaysia must find ways to remain relevant in the broader global agenda," he added.
Malaysia's participation in APEC and G20 is also crucial for attracting foreign investment. The Malaysian delegation should take a 'trade mission' approach to promote green investments, particularly through the National Energy Transition Roadmap (NETR) and policies like Green Bonds and Sustainable Bonds.
Malaysia has the potential to become a major hub for green bond and sukuk issuance, which will bring long-term benefits to the country's economy.
In addition, Malaysia should capitalise on this opportunity to further develop its semiconductor industry under the National Semiconductor Plan.
"With the G20's recognition of semiconductors as a key driver of innovation, Malaysia needs to enhance its competitiveness in this sector and leverage its existing digital infrastructure, such as the 25 submarine cables and six strategic cable landing stations in the country," he said.
In terms of sustainability, Malaysia must provide practical solutions that demonstrate its commitment to global issues. For example, sustainability in the palm oil industry and the planning of sustainable data centres powered by clean energy can draw the attention of other delegations," he added.
Presenting real-world case studies on sustainability could strengthen Malaysia's position and ensure the country's voice is heard in discussions on climate change.
Meanwhile, for more effective bilateral relations, Malaysia's strategy is to balance shared interests with APEC and G20 member countries.
"Success in international cooperation requires both parties to benefit clearly from every discussion," he said.
https://www.nst.com.my/news/nation/2024/11/1133425/good-outcomes-apec-and-g20-summits-can-boost-malaysia-trump-20
Created by savemalaysia | Dec 08, 2024
Created by savemalaysia | Dec 08, 2024
Created by savemalaysia | Dec 08, 2024
Created by savemalaysia | Dec 08, 2024
Created by savemalaysia | Dec 08, 2024
Created by savemalaysia | Dec 08, 2024
Created by savemalaysia | Dec 08, 2024