NEW DELHI – Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, has called for more trade liberalisation and warned that protectionism was “dangerous for the world”.
Mustapa’s comments came in the wake of growing protectionism in some parts of the world, including US President Donald Trump’s ‘America First’ policy and the European Union’s discriminatory measures against some products from Asia.
Mustapa welcomed Indian Prime Minister Narendra Modi’s remarks yesterday at the World Economic Forum in Davos, where he defended globalisation.
“We need more world leaders to come forward in favour of opening up the markets. We need world leaders to come out strongly against protectionism.
“We hope that there will be a rolling back of protectionism as it is dangerous for the world,” he said to the media on the sidelines of the ASEAN-India business forum here today.
On ASEAN’s economic relations with India and China, he said, the 10-member bloc could act as a bridge between the two Asian giants.
He said due to its strategic location, Malaysia could be used as a platform by Indian companies to enter China.
“Malaysia has strong relations with China and we believe Indian companies will be able to benefit by locating their operations in Malaysia to penetrate the Chinese market,” he said. – BERNAMA