Malaysia could become a key supplier of raw materials as well as various components including microelectronics due to problems in trade relations between the United States and China, Malaysia’s Ministry of Trade and Industry said on July 12, Bernama reported.
The department noted that uncertainty in trade relations between Beijing and Washington creates an opportunity for the country to become a reliable supplier for a range of transnational corporations that want to protect their supply chains from problems caused by the conflict between the two superpowers.
“This could lead to increased foreign investment and employment opportunities in Malaysia.”officials say.
The agency confirmed that Malaysia will continue its policy of neutrality while maintaining good relations with all its trading partners, including the United States and China.
The ministry said trade tensions have already led to a surge in foreign investment, with US giants such as Intel investing RM30 billion in Malaysia and Global Foundries setting up an operations centre in Penang.
Source: Rossa Primavera
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