Kuala Lumpur, 27 January 2025 – The Ministry of Investment, Trade, and Industry (MITI), in collaboration with the Malaysia External Trade Development Corporation (MATRADE), has announced Malaysia’s strategic trade outlook for 2025, emphasising expanded engagements with Brazil, Russia, India, China, and South Africa (BRICS) nations, free trade agreement (FTA) partners, and emerging markets.
Minister of Investment, Trade and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, underscored Malaysia’s commitment to strengthening trade relations with emerging economies, particularly in Africa, the Middle East, and Latin America. This strategic direction aligns with the notable trade growth recorded in 2024, including significant increases in trade with African nations such as Angola (59.3%), Ethiopia (56.4%), Egypt (53.6%), Algeria (27.9%), and Libya (19.7%).
As part of its diversification strategy, Malaysia is also intensifying trade efforts within ASEAN, targeting rapidly developing urban centres such as Medan (Northern Sumatra, Indonesia), Surabaya (Eastern Java, Indonesia), Da Nang (Central Vietnam), Hai Phong (Northern Vietnam), and Can Tho (Southern Vietnam). This proactive approach is expected to sustain Malaysia’s robust trade performance in the coming years.
In 2024, Malaysia achieved a historic trade milestone, with total trade rebounding by 9.2% year-on-year to reach RM2.88 trillion. Exports rose by 5.7% to RM1.508 trillion, marking the second consecutive year exports surpassed RM1.5 trillion, following RM1.550 trillion in 2022. Meanwhile, imports surged by 13.2% to RM1.371 trillion, contributing to a record-high trade surplus of RM136.88 billion. YB Dato’ Seri Reezal Merican Naina Merican, Chairman of MATRADE, attributed this exceptional performance to strong national leadership and cohesive efforts across government and industry stakeholders. “This unprecedented accomplishment would not have been possible without the steadfast commitment of the YAB Prime Minister, YAB Deputy Prime Ministers, and our YB Minister of Investment, Trade, and Industry,” he remarked.
Malaysia’s role as a BRICS partner country marks a significant step forward in its trade diplomacy. The inclusion of additional BRICS members, such as Egypt, Ethiopia, and the United Arab Emirates (UAE), presents vast opportunities for Malaysia to collaborate on green technology, digital transformation, and infrastructure development. This partnership enhances Malaysia’s position within the Global South, facilitating greater trade and technological cooperation within the bloc.
MATRADE is intensifying efforts to capitalise on Malaysia’s FTAs, particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP). These agreements provide preferential market access and zero-tariff benefits, enhancing the competitiveness of Malaysian products in global markets. Malaysia’s trade strategy for 2025 is anchored on digital transformation, sustainable growth, and regional integration. As the ASEAN Chair for 2025, Malaysia is committed to positioning the region as a dynamic hub for trade and investment by deepening economic cooperation and strengthening supply chain resilience. Agreements under ASEAN, such as RCEP and CPTPP, will play a crucial role in mitigating global trade disruptions while expanding market access for Malaysian businesses.
MITI has also announced Malaysia’s participation in Expo Osaka 2025 as a strategic initiative to attract investments and showcase the nation’s advancements in sustainability and technology. The Ministry remains steadfast in its efforts to enhance industrial competitiveness while addressing challenges such as reliance on unskilled foreign labour and economic disparities. Collaboration among government bodies, industry players, and stakeholders is critical to achieving Malaysia’s ambitious trade targets. “Together, we will ensure Malaysia’s trade performance in 2025 becomes a testament to our shared vision and collective efforts. Let us move forward with determination and embrace the future with optimism,” added YB Senator Tengku Datuk Seri Utama Zafrul.
