Further strengthening strategic partners

MYANMAR and Malaysia share a common history and are both ASEAN member states located on the Southeast Asian peninsula.
Today, bilateral relations are gradually expanding beyond the political and diplomatic spheres to encompass a wide range of areas, including the economy, trade, investment, communications and technology, energy, tourism, education and culture. Therefore, the time is ripe for Myanmar and Malaysia to build on their longstanding friendship and close ties and further strengthen their relationship into a robust economic partnership in the years ahead.

Today’s world is undergoing rapid economic and technological changes while facing regional and global challenges. In the face of these challenges, economic resilience has become increasingly important for countries. Consequently, mutual trust, respect and mutually beneficial cooperation among countries in the region have become more vital than ever. In terms of bilateral economic cooperation, Malaysia is currently one of Myanmar’s important trading partners.

As Malaysia has expertise and technological capabilities in oil palm cultivation and pro­duction, palm oil milling, oil refining and the production of value-added edible oils, the two countries will cooperate in in­vestment across the entire val­ue chain, from cultivation and production to market distribu­tion, by combining Malaysia’s experience and technology with Myanmar’s agricultural resources.

Investment plays a key role in further strengthening bilateral relations and eco­nomic cooperation between the two countries. In terms of investment volume, Malaysia is currently the ninth-largest foreign investor in Myanmar, with 32 investment projects worth more than US$1 billion. Myanmar’s advantages for Malaysian investors include not only its raw material resources and production base but also opportunities and market potential for developing value-added industries. Cooperation should be developed into a long-term part­nership encompassing technological collaboration, skilled workforce development, regional supply chain integration and access to export markets.

In particular, the two countries should combine and leverage their respective strengths in food production, agro-processing, halal food, fisheries and seafood products, rubber and rubber-based prod­ucts, packaging, cold storage and logistics, industrial products, and other value-added goods. This will establish a stronger economic partnership through which both countries can jointly develop and implement a new, broader and more practically beneficial dimension of economic cooperation.

Myanmar and Malaysia can be viewed not only as two countries in South-East Asia but also as strategic partners capable of connect­ing the Indian Ocean with ASEAN’s economic hub. Therefore, the two countries should build connectivity based on their geographical advantages, develop infrastructure, promote trade and investment, enhance human resource development, and ultimately link these efforts to the interests and well-being of the peoples of both countries.

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