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Malaysia Sun
2 hours ago
- Business
- Malaysia Sun
Malaysia, Poland seek strengthened economic, trade ties
KUALA LUMPUR, June 10 (Xinhua) -- Malaysia is seeking strengthened economic and trade ties with Poland while reaffirming the importance of free and open trade, Malaysian Prime Minister Anwar Ibrahim and Polish President Andrzej Duda said here on Tuesday. They reaffirmed the importance of adhering to internationally accepted trade norms and multilateral engagement and cooperation, as this would be mutually beneficial, the leaders said in a joint statement during Duda's official visit to Malaysia from June 9 to 11. "The leaders reiterated their unwavering commitment to open and inclusive trade and a fair, rules-based international trading system. They strongly reaffirmed their support for the swift advancement of the Malaysia-EU Free Trade Agreement (MEUFTA) negotiations and stressed the importance of concluding the agreement at the earliest opportunity," they said. "Both sides agreed to promote balanced trade by reducing economic barriers, enhancing consultation mechanisms between relevant ministries, and fostering collaboration amongst business communities," they said, adding that friendly bilateral cooperation will facilitate cooperation in a number of new and emerging fields such as the digitalization of public services, green transition, particularly the hydrogen economy and renewable energy and the maritime economy. Anwar and Duda also agreed to cooperate on security matters, including enhancing the exchange of experiences and coordination in combating crime, including organized and international crime. Poland is Malaysia's important trading partner among EU member states. Malaysia's main exports to Poland include electrical and electronic products, rubber products and machinery, while main imports from Poland consist of machinery, equipment and spare parts, electrical and electronic products, and transport equipment.
New Straits Times
12 hours ago
- Business
- New Straits Times
Malaysia and Poland strengthen trade and security cooperation
KUALA LUMPUR: Malaysia and Poland have agreed to strengthen their economic partnership by lowering trade barriers and boosting cooperation in key sectors such as agri-food. Both countries also pledged to work more closely to combat organised crime, illegal immigration, and human trafficking. In a joint statement following a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and Polish President Andrzej Duda, both leaders said economic cooperation is an essential pillar of bilateral relations. "Both sides agreed to promote balanced trade by reducing economic barriers, enhancing consultation mechanisms between relevant ministries, and fostering collaboration amongst business communities. "The leaders also reaffirmed their commitment to enhancing cooperation and boosting bilateral trade in the agri-food sector," they added. Duda arrived in Malaysia yesterday for a three-day official visit to strengthen bilateral relations and expand cooperation. In 2024, Poland ranked as Malaysia's 8th largest trading partner among European Union member states, with total bilateral trade rising by 19.5 per cent to RM5.7 billion compared to 2023. Malaysia's primary exports to Poland include electrical and electronic products, rubber products and machinery, while key imports from Poland consist of machinery, equipment and parts, electrical and electronic products and transport equipment. The leaders agreed to support for the swift advancement of the Malaysia-EU Free Trade Agreement (MEUFTA) negotiations and stressed the importance of concluding the agreement at the earliest opportunity. They also pledged to advance bilateral cooperation through joint initiatives in economic and digital transformation, focusing on key sectors including the digitalisation of public services, green transition, particularly the hydrogen economy and renewable energy among others. Anwar also welcomed Poland's swift ratification of the Framework Agreement on Partnership and Cooperation between Malaysia and the European Union (MEUPCA). The leaders also reiterated their commitment to deepen cooperation in security and defence, building upon cooperation in areas of mutual benefits. They reaffirmed their commitment to enhancing the exchange of experiences and coordination in combating crime, including organised and international crime, illegal immigration, and human trafficking. Anwar and Duda also recognised the vital role of the private sector and people-to-people connections in strengthening bilateral relations and cooperation between Malaysia and Poland. "As such, they affirmed their commitment to expanding people-to-people exchanges in areas such as education, science, vocational training, culture, national heritage preservation, and tourism," they said. They also welcomed efforts and encouraged airlines of both countries, as well as tour operators, to enhance direct air connectivity and expand package tour offerings to promote tourism, facilitate cargo transport, and strengthen people-to-people exchanges between Malaysia and Poland. Duda also extended his thanks to Anwar and invited him to visit Poland, expressing hope that the friendly and productive dialogue between both countries will continue.
New Straits Times
21-05-2025
- Business
- New Straits Times
Finland eyes deeper trade ties with Malaysia, pushes for EU-Malaysia FTA
KUALA LUMPUR: Finland aims to deepen economic ties with Malaysia, focusing on the circular economy, smart and sustainable energy solutions, digitalisation, and semiconductors to boost trade and investment in the region. Its Foreign Trade and Development Minister Ville Tavio said the country is keen to strengthen collaboration through both bilateral engagement and the long-awaited EU-Malaysia Free Trade Agreement (MEUFTA). "We have good relations based on mutual respect and cooperation. Many of the sectors that Malaysia is growing in are also areas Finland has been working on. So, I know we have things to do together. "We also want the EU-Malaysia free trade negotiations to move forward and be concluded. "The current trade is not yet at a high level, so there is a lot of potential," he told Bernama during his official visit to Malaysia which began yesterday until May 23. Tavio said around 40 Finnish companies currently operate in Malaysia including major names like Nokia Corporation and Kone, which supplied elevators for the Merdeka 118 skyscraper. He hoped more Finnish companies will be interested in the Malaysian market and, likewise, Malaysian companies will explore opportunities in Finland. Besides, Tavio said Finland will be closely following the 46th Asean Summit under Malaysia's chairmanship as Finnish companies are well positioned to support Asean's green transition through their expertise in sustainable technologies. "With the Asean chairmanship 2025 theme of 'Inclusivity and Sustainability', the focus is very timely and relevant. "Our companies have many sustainable solutions. So, I think that is something we can really work with as clean technologies become more popular," he said. During the official visit, Tavio is leading a prominent business delegation comprising representatives from over 20 Finnish companies and organisations, with scheduled stops in both the capital and Penang. He will engage with federal and state governments, local businesses and other key stakeholders, and attend a business seminar co-organised with the Malaysian Investment Development Authority (MIDA). Meanwhile, Finland's Ambassador to Malaysia Anne Vasara said the delegation will travel to Penang – often referred to as the 'Silicon Valley of Malaysia' to explore its dynamic technology ecosystem and further strengthen ties with regional industry leaders. "The visit will include a business seminar and our companies will also engage in meetings with local firms, Penang authorities, and key stakeholders to explore ways to enhance cooperation," she said. The Finnish companies and organisations include those spanning key industries such as semiconductors, artificial intelligence, quantum and cloud computing, the Internet of Things, decarbonisation, green construction and waste management. – Bernama
The Star
09-05-2025
- Business
- The Star
Malaysia courts Europe
Business talk: Anwar welcoming the IWS and World Economic Council delegations to Putrajaya. — Photo sourced from Anwar's Facebook PETALING JAYA: Business-friendly policies and facilities that can benefit foreign investors were among topics discussed during the International Economic Senate's (Internationaler Wirtschaftssenat – IWS) visit to Malaysia, says Datuk Seri Anwar Ibrahim. The Prime Minister, who met the delegation led by IWS chairman Peter Nussbaum, said the visit was part of ongoing efforts to explore investment opportunities, particularly by German companies. The visit also included a delegation from the World Economic Council. 'We exchanged views on business-friendly policies and facilities provided by the government that can benefit foreign investors,' he said in a post on Facebook yesterday. Anwar said Germany has been Malaysia's largest trading partner among European Union (EU) member states since 2000. The IWS, established in Germany, aims to unite business leaders, entrepreneurs and policymakers with the mission of fostering sustainable economic development and responsible business practices. The World Economic Council delegation is one of the key initiatives of IWS which brings together senior business leaders, government officials and experts in various fields. Anwar said Malaysia sees greater potential following the recent announcement on the resumption of negotiations for the Malaysia-European Union Free Trade Agreement (MEUFTA). Negotiations for MEUFTA started in 2010, but stalled in 2012 following Malaysia's reservations over the EU's palm oil procurement policies, subsidies and sustainability clauses. One of the reasons for the breakdown is discrimination over palm oil, particularly claims regarding open burning and labour practices. According to the prime minister, Malaysia is in a better position now to negotiate with the EU due to its political stability and economic strength. In another post, Anwar said songstress Datuk Seri Siti Nurhaliza Tarudin can become a role model for young artistes and entertainers. The Prime Minister said this was among issues raised during a courtesy call by Siti Nurhaliza and her husband Datuk Seri Khalid Mohamad Jiwa, representing Yayasan Nurjiwa. 'We also touched on the importance of variety in arts performance, to meet the needs of the new generation and ensure the industry remains relevant,' said Anwar.
The Sun
09-05-2025
- Business
- The Sun
IWS, World Economic Council delegation open investment opportunities
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said the presence of the International Economic Senate (IWS) and the World Economic Council delegation opens up opportunities for investment expansion, especially involving German companies in Malaysia. Through a post on his Facebook account today, Anwar said he received a courtesy call from IWS chairman Peter Nussbaum along with a delegation from the World Economic Council. 'I welcome their visit to Malaysia as a continuous initiative to explore investment expansion opportunities, especially by German companies. 'We exchanged views on the policies and business facilities by the MADANI Government that can benefit foreign investors,' he said. IWS was established in Germany to bring together business leaders, entrepreneurs and policymakers with a mission to foster sustainable economic development and responsible business practices. The World Economic Council delegation is one of the key initiatives of IWS which brings together senior business leaders, government officials and experts in various fields. Germany has been Malaysia's largest trading partner among European Union (EU) member states since 2000. In this context, Malaysia sees greater opportunities in line with the announcement of the resumption of negotiations on the Malaysia-EU Free Trade Agreement (MEUFTA) on Jan 20.
