Investment, Trade and Industry Minister Johari Ghani has announced that Malaysia will examine its 17 free trade agreements to ensure they produce stronger results for the country.
The agreements consist of nine multilateral and regional pacts and eight bilateral ones, including the deal with Turkey.
Seeking Greater Benefits for Malaysia
Johari said the ministry wants to determine exactly how much Malaysia has gained from these agreements so far.
“Why have we not seen more investment or trade flowing in despite signing these FTAs?” he asked reporters.
He stressed the need to engage directly with the business community to better understand the challenges they face.
Rising Protectionism Prompts Action
The minister noted that protectionism has become the dominant trend worldwide, with many countries turning inward.
Turkey will be the first partner visited as part of this review, followed by others.
Focus on Small and Medium Enterprises
Johari emphasised that small and medium enterprises must benefit more directly from the agreements instead of depending mainly on large corporations and foreign investors.
The government intends to ensure SMEs are not sidelined and that the reviews lead to improved market access for local businesses.
Malaysia will continue welcoming multinational companies and advanced technologies such as AI, yet the country’s real strength lies in developing its SMEs and helping them enter FTA markets.
“Our strength is how we develop our SMEs and allow them to expand into all these FTA countries,” he said.
Last month, Johari indicated that trade agreements with the United States could also be reviewed and renegotiated if any terms are found unfair.
TAG list: Malaysia FTA, Johari Ghani, free trade agreements, SME support, Turkey trade, protectionism, trade review, market access
