Latest news with #Zafrul
New Straits Times
a day ago
- Business
- New Straits Times
Zafrul: Halal certification a 'red line' in US trade talks
KUALA LUMPUR: Halal certification is one of Malaysia's non-negotiable issues, or "red lines", in ongoing trade discussions with the United States. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said several discussions with the relevant ministries and the Department of Islamic Development Malaysia (Jakim) on the recognition of halal certificates issued by the US have also been conducted. Any agreement on the matter, he said, must be in line with Jakim's standards. "The issue of halal certification is also one of our red lines, for example, the recognition of halal certificates from the US. "Guidelines have been developed based on past experience and in consultation with the US. "If they follow Jakim's requirements and maintain similar standards to those adopted in other countries, then we can consider accepting them. But the recognition must come from Jakim," he said during the question and answer session in the Dewan Rakyat yesterday. Tengku Zafrul was responding to a supplementary question from Mohd Syahir Che Sulaiman (PN-Bachok), who asked for further clarification on the red lines outlined by Prime Minister Datuk Seri Anwar Ibrahim on tariffs imposed by the US. Anwar had said Malaysia will not compromise on its national policies in trade negotiations, even as discussions with the US on proposed tariffs continue. He said the government had drawn a clear red line to protect its policies, including those that provide opportunities for local companies and uphold the Bumiputera agenda. Commenting further, Tengku Zafrul said Malaysia will remain firm in defending its core economic policies, not only with the US but also with international companies. He said such a principle is essential to protect Bumiputera interests and to ensure the country's economic development remains balanced. "While we maintain a proactive and open stance in negotiations, we have also identified the red lines, non-negotiable issues, which were recently agreed upon at the cabinet level," he said. He also cited the National Trade Estimate Report released by the US, which highlighted several Malaysian policies, including local equity requirements in government procurement as trade barriers. "They raised concerns over Malaysia's government procurement policies and local equity requirements, which they argue affect market access. They also said their market is open, so why isn't ours? "Intellectual property protection is also a recurring agenda item in efforts to strengthen bilateral cooperation. "As such, we must stand firm in defending our key policies, including those related to ownership, procurement, and the sovereignty of our trade policies."
New Straits Times
2 days ago
- Business
- New Straits Times
Malaysia strengthens response to US tariffs, focuses on strategic industries
KUALA LUMPUR: Investment Promotion Agencies (IPAs) across the country will continue working closely with state governments to ensure that local industries in each state are not adversely affected by the United States (US) tariff issue. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government's establishment of the National Geoeconomic Command Centre (NGCC) would play a key role in monitoring, evaluating, and coordinating responses to shifts in the global trade landscape, including tariff shocks and non-tariff barriers. "This effort aims to ensure that the country's strategic and economic industries remain resilient and competitive in an increasingly challenging and uncertain global environment," he said in the Dewan Rakyat, responding to a question from Mohd Syahir Che Sulaiman (PN-Bachok). Mohd Syahir enquired about the government's steps to address the US tariff issue with the involvement of state governments to coordinate investment responses, restructure state incentives, and help local industries adapt to a more challenging trade environment. Meanwhile, Tengku Zafrul said that on May 5, Prime Minister Datuk Seri Anwar Ibrahim convened a Special Parliament Session on US retaliatory tariffs, during which several incentives were announced to support the small and medium enterprise (SME) sector. Among these, the government has allocated RM20 million to the Malaysia External Trade Development Corporation to help SMEs penetrate new markets. "The easy financing fund has also been increased by RM500 million through development financial institutions (DFIs) for the benefit of affected SMEs," said Tengku Zafrul. Additionally, the government has raised its guarantee facility under the Business Financing Guarantee Scheme (SJPP) by RM1 billion, specifically to assist SME exporters in obtaining loans. The Ministry of Finance has also spearheaded the Government-linked Enterprises Activation and Reform Programme (GEAR-uP) with funds totalling RM25 billion to drive high-growth and high-value sectors. Tengku Zafrul noted that since US President Donald Trump announced the imposition of retaliatory tariffs on Malaysia and other trading partners on April 1, 2025, the government has made a strategic decision not to respond with retaliatory measures, opting instead to negotiate with the US administration. The Prime Minister has assured that in pursuing a reciprocal trade agreement, the government will not compromise on matters related to national sovereignty. "Although we are proactive, firm, and open in our negotiations with the US, we have several 'red lines' that were recently agreed upon by the new Cabinet," he said. These include the Bumiputera policy on ownership of local industries and strategic sectors, priority for local and Bumiputera companies in government procurement, adherence to halal guidelines recognised by the Department of Islamic Development Malaysia (Jakim), and the protection of intellectual property rights. "We will continue to engage with the US in a careful, transparent, and professional manner to ensure that every decision made benefits the people and supports balanced economic development," added Tengku Zafrul.
The Sun
2 days ago
- Business
- The Sun
Malaysia boosts trade resilience amid US tariffs, supports SMEs
KUALA LUMPUR: Investment Promotion Agencies (IPAs) nationwide are collaborating with state governments to mitigate the impact of US tariffs on local industries. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted the National Geoeconomic Command Centre (NGCC) as pivotal in monitoring global trade shifts, ensuring Malaysia's strategic sectors remain competitive. Responding to Mohd Syahir Che Sulaiman (PN-Bachok) in Parliament, Tengku Zafrul outlined measures to restructure state incentives and assist industries facing trade challenges. On May 5, Prime Minister Datuk Seri Anwar Ibrahim announced RM20 million for SME market expansion and a RM500 million boost to easy financing via development financial institutions (DFIs). The government also raised the Business Financing Guarantee Scheme (SJPP) by RM1 billion for SME exporters and launched the RM25 billion GEAR-uP programme to spur high-growth sectors. Tengku Zafrul reiterated Malaysia's non-retaliatory stance since US tariffs took effect on April 1, 2025, opting for negotiations while safeguarding sovereignty. 'We have 'red lines,' including Bumiputera policies, halal compliance, and intellectual property rights,' he stated. - Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
Trade growth in first half of 2025 proves strength of Malaysia's external trade
KUALA LUMPUR: The record cumulative trade value increase of 4.8 per cent to RM1.465 trillion for the first half of 2025 reflects the strength and resilience of Malaysia's external trade position. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the country also saw encouraging export growth to major markets such as the United States, the European Union, Taiwan and Mexico. "The Ministry of Investment, Trade and Industry (MITI) and the Malaysia External Trade Development Corporation (Matrade) remain committed to building a stronger trade ecosystem by diversifying export markets and strengthening trade relations through free trade agreements (FTAs). Let us expand Malaysia's global reach," he said in a post on the X platform today. Tengku Zafrul said the country's trade surplus surged to RM8.59 billion in June, compared to RM759.9 million in May 2025, marking the 62nd consecutive month of surplus since May of 2020. He said key factors driving exports in June included palm oil and palm oil-based agricultural products, which recorded double-digit growth for 15 consecutive months. "This was also supported by increased exports of machinery, equipment and parts, as well as electrical and electronic (E&E) goods," he added.
The Star
6 days ago
- Sport
- The Star
Tengku Zafrul: Mindset, not just muscles, will drive badminton forward
PETALING JAYA: Badminton Association of Malaysia (BAM) president Tengku Datuk Seri Zafrul Tengku Abdul Aziz ( pic ) believes the key to elevating Malaysian badminton lies in one crucial element – mindset. 'The thing that matters most is the mindset – the mindset of players, and the mindset of the management,' said Zafrul after a casual discussion with sports editors of the mainstream media yesterday. Since assuming the role in April, Zafrul has been laying the groundwork for a long-term roadmap, holding extensive discussions with stakeholders to assess the state of Malaysian badminton. 'It hasn't even been 100 days yet (as the BAM president), but to be fair, the engagement has been encouraging. 'My goal from day one was to meet as many stakeholders as possible, and they've been very forthcoming,' said Zafrul. 'Now we have a team working on putting the pieces together, and I hope to share our plans with everyone by the end of August. With the support of council members, players, and all parties involved, I believe we can roll out a blueprint that lifts Malaysian badminton to greater heights. 'We are not just thinking short-term but we're looking at a vision for the next three, five, and even 10 years.' 'To transform anything, you need to know two things – where you are, and where you want to go. 'From there, we can map out what it will take to go from.' Zafrul acknowledged that expectations are always high when it comes to badminton in Malaysia, which adds to the urgency of having a solid and comprehensive plan. 'I'm not saying the current ecosystem is bad, but clearly, there's room for improvement. It's about aligning all the sectors to meet these expectations.'
