Azmin: Russia-Ukraine conflict will affect global economy

THE ongoing conflict between Russia and Ukraine could have serious implications to the global economy.
International Trade and Industry Senior Minister Datuk Seri Mohamed Azmin Ali said not only that, but the conflict will also regress any country’s effort to move forward economically.
“That is why Malaysia has always taken a stand to promote peace.
“Malaysia has already made its stand on the situation in Ukraine. We hope there will be an effective solution for world peace and also for the global economy,” he said after the Chinese New Year reception at the MITI Tower yesterday.
Azmin said a reconciliation is important as Russia is not only one of the important economic powers for Malaysia but also for other countries that are still in the process of recovering from the Covid-19 pandemic.
He also addressed Malaysia’s bilateral trade agreements with Thailand and Cambodia, which he said are interested in working closely with Malaysia to develop halal products and a sound ecosystem in the region.
Azmin says a reconciliation is important as Russia is not only one of the important economic powers for Malaysia
Pic by Muhd Amin Naharul
Azmin also touched on healthcare research and collaboration in Thailand, between Pharmaniaga Bhd and Thailand’s Bio-Innova Ltd.
“I cannot overstress the imperative that we increase our collaborations, cooperation and partnerships with all current and future stakeholders, and explore new areas in expanding new business areas,” he said.
Azmin also expressed gratitude to Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah’s acknowledgement of Ministry of International Trade and Industry’s (MITI) achievements, saying it is proof of the government’s commitment to achieving the national agenda.
He said for the first time, Malaysia’s trade performance in 2021 recorded an outstanding achievement of more than RM2 trillion, with total exports worth RM1.24 trillion, thus reaching the target of the 12th Malaysia Plan four years earlier.
“Congratulations to all heads of departments under MITI, especially to those who have contributed greatly to the success of the plan, and also to all Malaysians for their hard work and dedication.
“Thank you very much for your continued work to ensure our economic recovery will be accelerated further and sustained,” he said.