The Prime Minister of Malaysia called China a “rational and gentle voice” during the COVID-19 period and called for the boycott of unilateralism to maintain cross-border commodity flows

 FX168 Financial News (Hong Kong), Malaysian Prime Minister Muhyiddin Yassin called China a rational and gentle voice during the COVID-19 pandemic, referring to China’s appeal to countries not to take excessive measures to ease the emergency crisis to affect domestic economic activities. He reiterated that Malaysia is the main supporter of the volatile trading system, called for resistance to trade protectionism and unilateralism, and maintained the mobility of cross-border goods and services.

             Muhyiddin delivered a keynote speech at the 2020 World China Economic Summit in Kuala Lumpur. He stated that Malaysia will become a pro-business, investment and trade country and will also be committed to developing international partnerships with countries around the world. He said: “As a supporter of the multilateral trading system, China has always maintained a rational and gentle voice during the period when the new crown crisis hits the economy, calling on all countries to take emergency measures to reduce pandemic-related risks. It will have a disproportionate impact on trade and investment. Governments should also resist excessive nationalist policies that may restrict international business relations. It is vital that governments continue to abide by the basic philosophy and rules governing international trade, so as to provide enterprises with certainty And predictability.”

             He added: “Then what follows is that we must resist trade protectionism and unilateralism, and allow cross-border goods and services to continue to flow unimpeded. The COVID-19 pandemic is unlikely to be related to innovation, digitalization and technology. Adopt to become an ally, because companies and consumers are forced to adapt to the restrictions of actions and operations. Companies that have resisted these pushes in the past, if they want to survive and remain relevant, no longer have the option of doing so. We must use new resilience And vitality to carry out economic activities, and if companies want to survive the crisis, they must also be prepared to adapt to the new economic shape.”

             Malaysia has signed an agreement to purchase 6.4 million doses of AstraZeneca’s new crown vaccine. Muhyiddin also emphasized that it is continuing to conduct final negotiations with China and Russia to obtain more vaccines. Malaysia signed a contract with Pfizer Vaccines in November to purchase 12.8 million doses of vaccine and participated in the global COVAX facility supported by the World Health Organization (WTO). Muhyiddin said in a televised speech to Malaysians: “This means that Malaysia has secured the supply of vaccines, and the current volume is sufficient to cover 40% of the country’s population. Malaysia is also working with China Kexing and the Gamaleya Institute in Russia. Final negotiations to resolve the remaining issues. The total value of the purchase transaction is estimated to be US$504.4 million.”

             As the Democratic presidential candidate of the United States is vaccinated live on TV, the Malaysian government will follow suit. In order to strengthen the Malaysian people’s confidence in the safety and effectiveness of the vaccine, he will be the first person to receive the vaccine, followed by front-line workers and high-risk groups, including the elderly. He also pointed out that the Malaysian government is expected to receive the first batch of Pfizer vaccines in February next year, which will make Malaysia the first country in Southeast Asia to reach an agreement with a US drug maker. According to Pfizer’s agreement, Malaysia will receive 1 million doses in the first quarter of 2021, followed by 1.7 million doses in the second quarter, 5.8 million doses in the third quarter, and 4.3 million doses in the fourth quarter.

             Up to now, Malaysia is still a key country in the global infrastructure development plan, and currently ongoing projects include the US$11 billion East Coast Rail Link. Muhyiddin also wrote on his face before: “The Chinese authorities also thank the Malaysian government for its continuous support to China in all aspects, especially since the outbreak of the new crown epidemic at the beginning of this year. I think Malaysia is a very close and friendly ally of China. Ready to extend a helping hand when China needs it. China has been Malaysia’s largest trading partner for 11 consecutive years, with trade volume reaching 77.3 billion U.S. dollars in 2019. China also became Malaysia’s 10th largest source of foreign direct investment last year.

              Malaysia welcomes more companies from China to make Malaysia their first choice and continue to pursue their investment objectives, especially in the high-tech industry. China also congratulates Malaysia on becoming the host country of the 2020 Asia-Pacific Economic Cooperation (APEC) summit, which issued the Kuala Lumpur Declaration and launched the Blatt Jaya Vision 2040. The two plans will encourage APEC to ensure the next 20 years Regional economic growth. “

Source: FX168 Finance Network