KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has rejected claims that Malaysia had surrendered its sovereignty following the signing of the new reciprocal trade agreement with the United States.
Anwar said the signing of economic cooperation agreements between Asean countries and strategic partners underscores the bloc's role in forging centrality.
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"If we are scared of the US, how is it possible that we sign this with China a day after Trump returns. That is not possible. But credit goes not to me alone, but to all my peers here," he said during the press conference after the closing ceremony of the 47th Asean Summit and Related Summits, on Tuesday (Oct 28).
"To me, the decisions we make are those that protect the country's image and serve the national interest, economically, in terms of investment, and most importantly, in bringing benefits to the people.
"When we maintain good relations with other countries, traders, tourists and investors come here and that benefits the rakyat," he explained.
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Anwar said this was why Malaysia continues to participate in such platforms, which also include representatives from the International Monetary Fund (IMF), the World Bank, the Asean+3 Macroeconomic Research Office (AMRO), the Asean Business Advisory Council (Asean-BAC), and several prominent global educational institutions.
Anwar said Asean, under Malaysia's chairmanship, had also signed the Asean-China Free Trade Agreement 3.0 Upgrade, the first upgrade under Asean.
"I am proud that Malaysia's name is now held in high regard,” said Anwar.
The reciprocal trade agreement, signed on the sidelines of the 47th Asean Summit and Related Summits on Oct 26, was aimed at strengthening bilateral economic ties, expanding market access and improving supply chain resilience.
Under the deal, Malaysia has committed to providing significant preferential market access for US industrial and agricultural goods. At the same time, the United States would maintain a 19% reciprocal tariff on Malaysian exports, with specific products receiving zero tariffs under an aligned partners list.
