Tok Mat: South Asian tensions can hurt trade
Call to de-escalate: Mohamad sharing his thoughts in an interview with The Star at Wisma Putra, Putrajaya. — Foreign Minister's Office
PUTRAJAYA: The Pakistan-India conflict could affect Malaysia economically, as the country has substantial trade ties with both nations.
Malaysia is thus concerned over the situation in the sub-continent and is urging for both countries to open diplomatic channels to ease the situation, says Foreign Minister Datuk Seri Mohamad Hasan.
'We hope it will not escalate, it will have a direct impact on Malaysia especially in import and export.
'Our trade with both India and Pakistan is quite substantial, Malaysia will be greatly affected,' he told The Star in an interview at Wisma Putra yesterday.
Bilateral trade between Malaysia and India has been steadily growing to reach US$20.01bil (RM86bil) in the last two years.
Malaysia has emerged as the 16th largest trading partner for India, while India figures among the top 10 largest trading partners for Malaysia.
Malaysia's top exports to India include palm oil, crude petroleum and semiconductor devices, while India exports refined petroleum, raw aluminum and frozen bovine meat to Malaysia.
Trade with Pakistan is also strong, and saw a 54.8% increase from January to August 2024, reaching US$1.21bil (RM5.2bil).
Malaysia's top exports to Pakistan include palm oil, refined petroleum and other vegetable oils. Pakistan exports rice, corn and onions to Malaysia.
The Malaysian government has reaffirmed its support for all efforts aimed at de-escalation and meaningful dialogue between India and Pakistan.
Mohamad also said the missions in both countries have issued advisories telling Malaysians living or studying in the two countries against travelling in areas where the conflict is taking place.
'Defer your travel plans to the conflict area for the time being,' he added.
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