Malaysia Committed To Strengthening Economic Co-operation With Brics -- Tengku Zafrul
'With ASEAN's digital economy expected to reach US$2 trillion (US$1=RM4.231) by 2030, this is a golden opportunity that we cannot afford to waste,' said Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz in a post on X today.
Tengku Zafrul said the side meetings with BRICS partner countries and business leaders opened up space for Malaysian companies to explore markets and investment opportunities in future-oriented sectors.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysia Sun
3 hours ago
- Malaysia Sun
Malaysian PM Anwar Ibrahim meets with Chinese FM Wang Yi
Malaysian Prime Minister Anwar Ibrahim (R) meets with Chinese Foreign Minister Wang Yi in Putrajaya, Malaysia, July 11, 2025. /Chinese Foreign Ministry Malaysian Prime Minister Anwar Ibrahim on Friday met with Chinese Foreign Minister Wang Yi in Putrajaya. Chinese President Xi Jinping's successful visit to Malaysia this year marked a major event in the history of Malaysia-China relations, Anwar said, adding that Xi's deep concern for and reflections on the future of the world have earned the heartfelt respect of the Malaysian government and its people. The fruitful cooperation between Malaysia and China in various fields has benefited the people of both countries, Anwar said. In today's world, cooperation mechanisms such as BRICS are growing with remarkable momentum as countries pursue independence, autonomy and development, he said. China has played a leading role in this process, which Malaysia highly appreciates, Anwar noted. Under the joint guidance of the two countries' leaders, China-Malaysia relations have entered the best period in their history, said Wang, also a member of the Political Bureau of the Communist Party of China Central Committee. China regards Malaysia as a sincere friend and stands ready to work with the Malaysian side to implement the important consensus reached between the two countries' leaders and to advance the building of a high-level, strategic China-Malaysia community with a shared future in a steady and substantive manner, he added. He said China fully supports Malaysia's work as the rotating chair of ASEAN and in playing a greater role in regional and international affairs. As developing countries, emerging economies, and key representatives of the Global South, China and Malaysia should join hands to meet challenges and pursue revitalization and development together, Wang said. The United States' unilateral imposition of high tariffs is irresponsible and unpopular, Wang noted. He said China will always stand with the vast number of developing countries, remain committed to high-level opening-up, share the dividends of its super-sized market and work together to expand the pie of win-win cooperation. Source: CGTN
Malaysia Sun
3 hours ago
- Malaysia Sun
Fighter jet deal with U.S. allies signals regional resistance to China's South China Sea expansion
Kuala Lumpur [Malaysia], July 12 (ANI): In a significant yet understated move to strengthen its air capabilities in the South China Sea, Malaysia has secured U.S. approval to acquire up to 33 F/A-18C/D Hornet fighter jets from Kuwait, a development that signals a quiet but firm recalibration of regional power dynamics, The Eurasian Times reports. The transfer, greenlit under Washington's Arms Export Control Act, marks a strategic U.S. nod to Malaysia's military modernisation without triggering an overt geopolitical showdown with China. Royal Malaysian Air Force Chief General Tan Sri Asghar Khan confirmed the approval on June 17, framing it as a critical upgrade amid rising threats in the Indo-Pacific. Although Malaysia publicly maintains neutrality, this defense boost, covertly supported by the U.S., reveals growing discomfort with China's coercive actions, particularly near Malaysia's maritime and airspace zones. As per The Eurasian Times, Beijing's belligerent behaviour continues to destabilise the region. In May alone, China dispatched 70 warships and two carrier strike groups from the Yellow Sea to the South China Sea, aggressively encircling Taiwan. Similar tactics have been used in Malaysian waters, including the provocative 2021 incursion of 16 Chinese military aircraft, prompting a formal diplomatic protest. With its fighter fleet thinned by the retirement of MiG-29s and BAE Hawks, Malaysia's acquisition of the well-maintained Kuwaiti Hornets--many upgraded with modern radars and electronic warfare systems--fills a glaring defense gap. U.S. support here is neither accidental nor merely logistical; it's part of a broader strategy to empower regional partners without drawing them into formal alliances, The Eurasian Times noted. Even as Malaysia maintains trade and dialogue with Beijing, it continues to face repeated intrusions near Petronas oil rigs off Sarawak, areas claimed under China's illegitimate nine-dash line. Public backlash against China's aggression has grown, exemplified by the 2025 boycott of Chagee tea shops after displaying a map echoing Chinese territorial claims. The Eurasian Times reported that the Hornet deal sends a quiet but unmistakable message: Malaysia, like other middle powers, is preparing for a future where sovereignty cannot rely on diplomacy alone. As tensions simmer, U.S.-backed defense upgrades reflect a growing resolve in Southeast Asia to resist China's creeping expansionism--on Malaysia's terms. (ANI)
Free Malaysia Today
5 hours ago
- Free Malaysia Today
Trump says Mexico, EU to face 30% tariff from Aug 1
President Donald Trump cited Mexico's role in the flow of illicit drugs into the US and a trade imbalance with the EU as justification for the duties. (AP pic) WASHINGTON : President Donald Trump said today major US trading partners Mexico and the European Union would face a 30% tariff starting next month, ramping up pressure for deals in his trade wars. Both sets of duties would take effect Aug 1, Trump said in separate letters posted to his Truth Social platform, citing Mexico's role in illicit drugs flowing into the US and a trade imbalance with the EU respectively. The duties are higher than the 25% levy Trump imposed on Mexican goods earlier this year, although products entering the US under the US-Mexico-Canada Agreement are exempted. Canada earlier received a similar letter setting out 35% tariffs on its goods. The EU tariff is also markedly steeper than the 20% levy Trump unveiled in April, as negotiations with the bloc continue. The EU, alongside dozens of other economies, had been set to see its US tariff level increase from a baseline of 10% on Wednesday, but Trump pushed back the deadline to August 1 just days before the elevated rates were due to take effect. Since the start of the week, Trump has sent out letters to more than 20 countries with updated tariffs for each.
