Malaysia continues to strengthen international economic relations in the face of global uncertainties, by leveraging close cooperation with Italy and the European Union (EU).
Deputy Minister of Investment, Trade and Industry (MITI), Liew Chin Tong said steps to strengthen relations with major trading partners are very important, especially in the era of increasingly complex United States (US) tariff challenges.
In addition, his department wants to foster closer cooperation between Asean and the European Union (EU) while attending the official launch of Generali Malaysia's new headquarters today (Monday).
He added that strong relations between Malaysia and Italy, ASEAN and the EU are very important especially in the face of the current global economic challenges.
Regarding the Bloomberg report involving goods from China falsely labelled as Malaysian products to avoid US tariffs, Chin Tong stressed that the country is always committed to protecting the country's trade reputation and will not compromise with illegal practices.
Malaysia has always placed emphasis on value-adding activities in local industries, where such efforts not only strengthen Malaysia's position as a high-quality manufacturing hub, but also ensure that the country's exports truly reflect the strength of the domestic economy.
