Malaysian Prime Minister Abdullah said in a speech at the opening of a new session of the National Assembly on the 28th that the Malaysian economy will benefit greatly from RCEP.

Malaysia has previously formally ratified the Regional Comprehensive Economic Partnership (RCEP), which will come into force for the country on March 18 this year.

Abdullah pointed out that the approval of RCEP will help Malaysian companies to access a wider market and provide more opportunities for Malaysian companies, especially SMEs, to increase their participation in regional and global value chains.

Abdullah said that Malaysia’s total trade volume exceeded 2 trillion ringgits (1 ringgit is about US$0.24) for the first time in its history last year, of which exports reached 1.24 trillion ringgits, making it the 12th Malaysia in four years ahead of schedule. related goals of the plan. This achievement will strengthen foreign investors’ confidence in Malaysia’s economy and investment climate.

In his speech on the same day, Abdullah affirmed the measures related to epidemic prevention such as the testing and vaccine development of the new crown pneumonia that the Malaysian government is currently promoting. But he also noted that Malaysia needs to be “cautious” in its push to position Covid-19 as an “endemic”. He also called on Malaysians to get a booster shot of the new crown vaccine as soon as possible. Abdullah also said that Malaysia needs to start exploring the reopening of foreign tourists to speed up the recovery of the country’s tourism industry.