Ikuti sidang media oleh Menteri Pelaburan, Perdagangan dan Industri (MITI), Tengku Datuk Seri Zafrul Abdul Aziz berkenaan penganjuran Forum Perniagaan & Pelaburan Bersama 2025, Zon Ekonomi Khas Johor-Singapura (JS-SEZ).
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00:00JSSZ Business and Investment Forum at this Pesada Johor Convention Center in Johor Bahru.
00:09It is a two-day forum and it represents a strong public and private collaboration.
00:16It involves many agencies, Mida, IRDA, Invest Johor, EDB, Enterprise Singapore,
00:24and also strategic partners like Maybank and CIMB.
00:31And I must say that we are pleasantly surprised by the strong presence here,
00:38by respective representatives representing many industries,
00:41over 1,000 participants at this inaugural forum.
00:46So Mithi, as the main host of the event, had the pleasure of hosting the Deputy Prime Minister of Singapore,
00:53who is also the Minister of Trade and Industry, Prime Minister Gan, Kim Yong,
00:58and also the Menteri Besar of Johor, Dato' On Hafiz Ghazi.
01:04And this long-standing cooperation shared between Malaysia and Singapore together with Johor, of course,
01:11is about to be elevated via this JSSZ.
01:16And you all heard the speeches by Menteri Besar of Johor together with the DPM Gan.
01:24I can believe we can sum up a few of the key points, including my speech.
01:31So point number one is that Johor, Malaysia, and Singapore have complementary strength,
01:37and this is what JSSZ is all about.
01:41If you look at the geographical area,
01:45it's a very compelling argument that no other areas can represent these unique qualities and resources
01:53and combined with the logistics and access to global financial centre as well.
02:00Number two is the possible establishment of an ASEAN or RCEP industrial park.
02:05This is something that all of us will continue to see the details on where the park will be,
02:12what are the focus on.
02:14So this will come back in a timely fashion.
02:18And the agreement that we should commence a regulatory sandbox as well for new projects, for new ideas.
02:25And number four, one of the most heated discussions among the industry players,
02:34not heated, one of the most raised issues is about tariffs, right?
02:39So on the current tariff issues, the Johor-Singapore Special Economic Zone
02:45is a compelling joint proposition by Malaysia and Singapore to elevate
02:51and strengthen the ASEAN supply chain.
02:54I think amidst all this discussion, we should refocus on issues or areas
03:02where we can cooperate to mitigate those impacts.
03:06And finally, we would like to invite investors from the rest of the ASEAN
03:09and ASEAN partners countries to also join us at JSSZ.
03:15So I would like, again, I would like to thank the Ministry of Freight
03:20and Industry of Singapore, as well as the Johor-State Government,
03:23as well as all the key partners that are involved in today's event.
03:28And we are also appreciative of the great participation of many companies
03:35who are present here today.
03:38So we open the floor to questions.
07:25I was happy to have a great
07:52that have been jointly announced by all the ASEAN Economic Ministers in our meeting two weeks ago,
08:00especially supporting the principles of multilateralism,
08:04where we believe that rule-based multilateral trading system is important,
08:09the multilateral economic global system is important,
08:12and we also reinforce the fact that ASEAN will not announce any retaliatory measures.
08:20We will instead engage the U.S., and I have seen my colleagues who are already engaging the U.S.,
08:28and all I have agreed, and this is voted because, after all,
08:32ASEAN has always talked about ASEAN neutrality and ASEAN centrality.
08:50So, what is your comment on that with a new threat in the midst of all these negotiations going on with the U.S.
09:07and now coming from China as well?
09:08Yes. So, as you know, Malaysia has always been strong in our view with regards to principles of multilateralism.
09:17So, similarly, what is important to note is that in any agreement that we have with other countries,
09:25be it bilateral or multilateral, it is always in the interest of Malaysia first.
09:30You know, we want to make sure that Malaysian companies, Malaysian investors, Malaysian exporters, Malaysian workers,
09:37well, in a way, Malaysian economy is not being affected by a decision that is harmful to our nation.
09:47So, again, China or EU or GCC or even the U.S., right, I think what we need to do is engage.
09:55For us, we understand the principle of multilateralism and especially through multilateral platforms or organisations like WTO
10:06is that, you know, that's why you have the MFN, right, where we always want to be fair to all.
10:11Whatever agreement that we have achieved with one nation, we should try as much as possible to give similar treatment.
10:21So, again, you know, this is where ASEAN is working very hard to upgrade our ASEAN Trade and Goods Agreement.
10:29I mentioned about the Digital Economic Framework Agreement.
10:31We are also, as ASEAN Bloc as well, is upgrading our FTA with China, with India, and Malaysia as well.
10:42It's continuously engaging with other countries and restarting also and resuming FTA negotiations with blocs like EU.
10:52And recently, we also have concluded discussions and now trying to finalise with European bloc for the FTA.
11:02The reason we take China and Malaysia, right, so 31 MOG was assigned.
11:14Can there be updates on it?
11:15Given that it was done on Thursday, I hope you give us time after two working days.
11:25So we need more time to update you.
11:27But please be assured that we are still monitoring not just this MOU but even the other MOU.
11:34But what's important, honestly, is to make sure that when you look at the MOU, it's not just MOU of cooperation in business but MOU cooperation in other areas.
11:48Then this is important because for Malaysia, as an open economy, we have similar understandings not just with China.
11:56You know, I'm going, for example, to Saudi also next week because we're in preparation for the ASEAN GCC meeting and of May,
12:08where we also have another business element that will be supporting the leaders' summit.
12:16So let's say that any negotiation with U.S. post row and the tariffs take place as it is, so what is the forecasted impact on Malaysia economy?
12:27And then with this latest development, is MOU going to revise the trade?
12:32Yes. So I think it's still early days. Like what Central Bank said, the Governor has said that even IMF World Bank is re-looking at the global growth forecast
12:42because one must bear in mind that this tariff, the reciprocal tariff that was announced, and now the base tariff that's also been in place for the next 90 days, affect all economies.
12:54So Malaysia, of course, is not excluded. So the impact to Malaysia, we are still studying. We have a range.
13:01I think many analysts here also have a range. You ask here, Amy Maybank, they have a range between 1 to 1.5 percent impact to GDP.
13:08You can look at the consensus number, but our official government still are waiting for a full study on the impact.
13:15I'm sure Central Bank at the right time will announce the impact to the GDP.
13:20As the Governor stated, he is still waiting for full study because things are moving so quickly in terms of policy changes.
13:30First, it was 1st of April, then 9th of April, then 10th of April, there's another change, and then some sectors are exempted,
13:37first semiconductor, then the E&E, and then appliances, and then maybe not, maybe only short term.
13:43So there's a lot of uncertainties. But if you ask me, of course, any tariff will have an impact to any economy.
13:54So definitely, there will be a negative impact. But again, there will be direct and indirect impact.
14:01There will be winners. There will be losers. But net-net, I think, even if you are winners, you are winners,
14:07but your pie is shrinking. You might be having a greater percentage of the pie,
14:16but the pie is shrinking as global trade and global economy shrinks in the face of, you know, tariffs.
14:24So that is what we believe in. That's why I mentioned many times today,
14:28the principles of multilateralism is important because this has brought growth to our economies,
14:34and it has brought also stability, peace, and prosperity as well.
14:38That is the thesis that we continue to support. Thank you.
14:42Thank you very much.