Prime Minister Datuk Seri Anwar Ibrahim stated that Malaysia does not support unilateral sanctions and advocates for countries to engage in free trade to strengthen their economies and foster growth. Speaking at the 9th Eastern Economic Forum (EEF) in Vladivostok, Russia, Anwar emphasized that Malaysia is committed to pursuing free trade regimes and maintaining open trade channels, regardless of international sanctions imposed on specific nations.
"We believe in free trade without restrictions. I assured Russian President Vladimir Putin last night that, despite the sanctions imposed on Russia, Malaysia will continue to explore trade opportunities," Anwar said during a question-and-answer session at the forum. He had met with Putin for a bilateral discussion the previous evening, followed by a dinner hosted by the Russian leader.
Anwar highlighted that Malaysia maintains strong relations with various sanctioned countries, including Iran, and remains committed to exploring trade avenues with them. "As long as the conditions encourage free trade, we will continue to pursue economic cooperation. There are no issues for us in maintaining these relationships," Anwar added, reaffirming Malaysia’s stance on engaging with sanctioned nations.
Anwar's remarks come at a time when Russia is facing over 16,500 international sanctions, primarily from Western nations, including the United States, the European Union, and their allies. These sanctions target critical areas such as oil and natural gas, military technology, and the importation of gold, diamonds, and other valuable resources. Russia's economy has been heavily impacted by these measures, particularly in the energy sector, which is central to its trade activities.
Similarly, Iran has long been subject to sanctions imposed by the US and several European nations, primarily due to its nuclear program. These sanctions have severely restricted Iran’s oil and gas exports and hindered technology transfers. Despite these constraints, Malaysia continues to foster trade relationships with both Russia and Iran, emphasizing its commitment to free trade principles.
During his time at the forum, Anwar also noted the growing interest from Russian companies to invest in Malaysia. He described a "wave of interest" from Russian businesses eager to increase economic cooperation with Malaysia. Anwar revealed that he had held discussions with several prominent Russian companies in sectors such as banking and aerospace, expressing optimism about future collaborations.
"I made it clear that Malaysia is an independent nation, and we are keen to engage with Russia in more meaningful ways," Anwar said. He extended invitations to various Russian delegations, including those representing banking and aerospace industries, to visit Malaysia. Some of these delegations are expected to arrive as early as next month, with others planning visits in October.
Anwar also highlighted that Malaysia continues to receive significant investments from other countries, particularly the United States and Germany. He mentioned that US-based Amazon Web Services (AWS) recently launched its Asia Pacific (Malaysia) Region, with plans to invest approximately USD 6.2 billion (RM 29.2 billion) in Malaysia by 2038.
Currently on a two-day working visit to Russia, Anwar underscored the importance of Malaysia’s trade relationship with Russia. In 2023, Russia was Malaysia's eighth-largest trading partner among European countries, with bilateral trade between the two nations increasing by 15.6 percent to RM 14.22 billion (USD 3.1 billion) compared to RM 12.3 billion (USD 2.79 billion) in 2022. As Malaysia continues to strengthen its global trade partnerships, the focus remains on ensuring economic growth through free and open trade practices.
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