Tengku Zafrul discusses economic cooperation with Singapore, Indonesia leaders
"I had the opportunity to engage with counterparts from our neighbouring nations -- Singapore's Deputy Prime Minister Gan Kim Yong and Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto.
"Our main focus was to improve and deepen trilateral economic cooperation for our shared benefit," he said in a post on his X platform, adding that he is currently in Indonesia.
Tengku Zafrul is one of four ministers accompanying Prime Minister Datuk Seri Anwar Ibrahim on his official visit to Indonesia today.
Other ministers in the delegation include Foreign Minister Datuk Seri Mohamad Hasan, Higher Education Minister Senator Datuk Seri Dr Zambry Abdul Kadir, Communications Minister Datuk Ahmad Fahmi Mohamed Fadzil, and Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.
Commenting further, Tengku Zafrul said the discussions, held against a backdrop of ongoing geopolitical challenges, also touched on ASEAN's role in navigating the increasingly complex geoeconomic landscape.
In 2024, Indonesia was Malaysia's sixth-largest global trading partner and the second-largest among ASEAN member states.
During the same period, bilateral trade rose 4.5 per cent to RM116.29 billion (US$25.5 billion), from RM111.21 billion (US$24.39 billion) in 2023.
In a statement on Thursday, the Foreign Ministry said Anwar, who also serves as Finance Minister, is making the visit in return for Indonesian President Prabowo Subianto's visit to Malaysia earlier this year.
The visit includes bilateral meetings and attendance at the 46th ASEAN Summit, the Second ASEAN-GCC Summit, and the ASEAN-GCC-China Summit held from May 26 to 27.
"This visit also forms part of preparations for the 13th Annual Consultation between Malaysia and Indonesia, scheduled to take place later this year," the statement added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
35 minutes ago
- The Sun
Anwar wraps up Italy visit with meeting with PM Giorgia Meloni
ROME: Prime Minister Datuk Seri Anwar Ibrahim will wrap up his three-day working visit to Italy with a bilateral meeting with his Italian counterpart, Giorgia Meloni, at Palazzo Chigi here today. During the meeting, both leaders are expected to reaffirm their countries' commitment to strengthening bilateral relations through more comprehensive cooperation. Both sides will also discuss a range of issues encompassing bilateral cooperation in economic sectors such as trade and investment, as well as collaboration in defence, renewable energy and the environment, agro-commodities, and the digital sector. The discussions will also cover people-to-people cooperation, including education, cultural exchanges, the tourism sector, as well as regional and international issues of mutual concern, such as the situation in the Middle East. At the bilateral meeting, the premier will be accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Defence Minister Datuk Seri Mohamed Khaled Nordin, and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Malaysia's Ambassador to Italy, Datuk Zahid Rastam, will also be present. Anwar arrived in the capital on Tuesday as part of his visits to Italy, France and Brazil, which form part of Malaysia's ongoing efforts to strengthen bilateral relations and promote economic cooperation at the global level. In 2024, total trade between Malaysia and Italy recorded a two per cent increase, reaching RM14.61 billion (USD3.18 billion), compared with 2023. Between January and May 2025, total trade grew by 3.3 per cent year-on-year to RM6.5 billion (US$1.48 billion). Italy remained Malaysia's fifth-largest trading partner and the third-largest importer of Malaysian palm oil among European Union member states in 2024. Anwar will then depart for Paris, where he is scheduled to meet with French President Emmanuel Macron during his two-day stay there. Subsequently, Anwar will attend the 17th BRICS Leaders' Summit in Rio de Janeiro at the invitation of Brazilian President Luiz Inácio Lula da Silva.
The Star
37 minutes ago
- The Star
Anwar wraps up Italy visit with meeting with PM Giorgia Meloni
ROME: Prime Minister Datuk Seri Anwar Ibrahim will wrap up his three-day working visit to Italy with a bilateral meeting with his Italian counterpart, Giorgia Meloni, at Palazzo Chigi here on Thursday (July 3). During the meeting, both leaders are expected to reaffirm their countries' commitment to strengthening bilateral relations through more comprehensive cooperation. Both sides will also discuss a range of issues encompassing bilateral cooperation in economic sectors such as trade and investment, as well as collaboration in defence, renewable energy and the environment, agro-commodities, and the digital sector. The discussions will also cover people-to-people cooperation, including education, cultural exchanges, the tourism sector, as well as regional and international issues of mutual concern, such as the situation in the Middle East. At the bilateral meeting, the premier will be accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Defence Minister Datuk Seri Mohamed Khaled Nordin, and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Malaysia's Ambassador to Italy, Datuk Zahid Rastam, will also be present. Anwar arrived in the capital on Tuesday as part of his visits to Italy, France and Brazil, which form part of Malaysia's ongoing efforts to strengthen bilateral relations and promote economic cooperation at the global level. In 2024, total trade between Malaysia and Italy recorded a 2% increase, reaching RM14.61bil (USD3.18bil), compared with 2023. Between January and May 2025, total trade grew by 3.3% year-on-year to RM6.5bil (US$1.48bil). Italy remained Malaysia's fifth-largest trading partner and the third-largest importer of Malaysian palm oil among European Union member states in 2024. Anwar will then depart for Paris, where he is scheduled to meet with French President Emmanuel Macron during his two-day stay there. Subsequently, Anwar will attend the 17th BRICS Leaders' Summit in Rio de Janeiro at the invitation of Brazilian President Luiz Inácio Lula da Silva. - Bernama
Free Malaysia Today
39 minutes ago
- Free Malaysia Today
Ringgit holds firm as US Fed flags tariff uncertainty
KUALA LUMPUR : The ringgit extended its gains against the US dollar on Thursday, buoyed by comments from US Federal Reserve (Fed) chair Jerome Powell highlighting uncertainty over the inflationary impact of tariffs. At 8am, the local note strengthened to 4.2255/4.2475 against the greenback from Wednesday's close of 4.2335/4.2405. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the prospect of a US rate cut remains intact, as downside risks to growth continue to mount amid weak sentiment among consumers and businesses. 'On that note, markets are still leaning towards the Fed increasing policy accommodation in the second half of the year, with two rate cuts now appearing to be the base case,' he added. Afzanizam also noted that the US Dollar Index (DXY) fell 0.18% to 97.679 points, suggesting the dollar-ringgit exchange rate is likely to hover between 4.22 and 4.23 today. However, the ringgit opened lower against a basket of major currencies. It weakened against the Japanese yen to 2.9161/2.9315 from 2.9070/2.9120, fell versus the British pound to 5.7843/5.8144 from 5.7631/5.7726, and declined against the euro to 4.9367/4.9624 from 4.9113/4.9194. The ringgit was mixed against Asean currencies. It advanced vis-à-vis the Philippine peso to 7.45/7.49 from 7.46/7.48, and was little changed against the Indonesian rupiah at 259.2/260.6 from 259.7/260.2. Meanwhile, it slipped against the Singapore dollar to 3.3092/3.3269 from 3.3061/3.3121, and eased against the Thai baht to 12.9899/13.0648 from 12.9584/12.9858.
