KUALA LUMPUR, Jan 28 — The Investment, Trade and Industry Ministry (MITI) is currently assessing the Agreement on Reciprocal Trade (ART) in collaboration with relevant ministries and agencies.
It is also ensuring that its implementation is aligned with its original objectives to safeguard trade continuity with the United States.
MITI said the assessment includes examining outcomes arising from market access following tariff reductions, as well as provisions that may affect national sovereignty, Malaysia’s trade policy, industrial development, and regulatory impacts.
MITI said this must be consistent with Malaysia’s existing and future international commitments.
MITI was responding to Datuk Seri Dr Wee Ka Siong’s (BN–Ayer Hitam) question in a written reply on Parliament’s website on the outcome of the review of the ART impact between the US and Malaysia on the national economy, and whether the government would initiate renegotiations of terms deemed unfair to protect the country’s economic interests.
The ongoing assessment will identify provisions that need improvement and safeguards to ensure that its implementation remains consistent with Malaysia’s neutral and non-aligned policy. This includes its commitments under the United Nations Charter, the World Trade Organisation, and existing free trade agreements Malaysia has entered into.
“The ministry will submit the findings of the study for discussion and consideration by the Cabinet, taking into account national economic security interests, diplomatic considerations, legal implications, and Malaysia’s international obligations,” MITI said.
Enforcement of the ART will take place 60 days after both parties exchange the instruments of ratification.
MITI said Malaysian product exports to the US will rise by 17.2 per cent to RM233.1 billion in 2025 against RM198.6 billion in 2024. It was RM161.3 billion in 2023. — Bernama
