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Malaysia, US beef up bilateral economic ties


Malaysia and the United States have intensified collaboration to strengthen bilateral economic ties both at the multilateral and regional levels. The commitment was made during the meeting between the Ministry of International Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz and his US counterpart, Ambassador Katherine Tai, the US Trade Representative, at Menara MITI. Malaysia and the US shared a strong track record of progressive outcomes in various international fora. Tengku Zafrul commended the role of the US in pioneering the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14-member regional trade alliance that discusses trade facilitation; supply chain resiliency; clean energy, decarbonisation, and climate change; as well as tax and corruption. Both Tengku Zafrul and Tai agreed that compliance with the principles of environmental, social, and governance (ESG) in businesses is the key way forward.

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