02-07-2025
- Business
- New Straits Times
Malaysia, Italy agree peace, stability are keys to economic progress
ROME: Malaysia and Italy agree that peace and stability are the keys for free trade, which serves as the foundation for global economic progress.
Prime Minister Datuk Seri Anwar Ibrahim said Malaysia deserves attention due to its strategic position within Asean and its consistent economic growth.
"Malaysia, as the centre of Asean, is deeply committed to the Asean framework. We are very fortunate, despite some minor issues here and there,
"Asean remains the most peaceful region in the world and the fastest-growing economy globally.
"Our policy of centrality involves engagement with all countries. We are also fortunate that our geographical location is far from conflict zones like Gaza and Ukraine.
"Despite that, we still adhere to the principles of democracy and reform and more importantly, to world peace and stability," he said.
Anwar made these remarks during his opening speech at the Malaysia-Italy Economic Partnership Roundtable held here.
Also present was Italian Deputy Prime Minister Antonio Tajani, who is also the country's foreign affairs and international cooperation minister.
In his speech, Tajani echoed Anwar's views, stating that Italy's main objective is to expand trade opportunities through a network of trade agreements, including those with the European Union, particularly in the Asia-Pacific region.
"Asia is a key area for Italy's global economic outlook, not only because of its strategic role in international trade but also due to the growing demand for high-value-added goods and services from rapidly developing economies in the region," he said.
Highlighting the strong Putrajaya-Rome relationship, Tajani expressed confidence that further cooperation could be explored between the two countries.
Malaysia is among the key countries identified for growth, with Tajani emphasising factors such as rising domestic consumption, infrastructure improvements and increased openness to international trade.
Italy's exports to Asean countries, including Malaysia, are projected to rise by 10.3 per cent in 2024, reaching €10.7 billion (about RM53.24 billion).
Italy's total exports last year stood at €623.5 billion, representing 40 per cent of its gross domestic product.
Exports to non-EU countries increased to €305.4 billion, up by 1.2 per cent.
Italy is currently the sixth-largest exporter in the world and leads Europe in the diversity of its export goods.
