Malaysia and Italy are poised to deepen their economic partnership as both nations work toward stronger bilateral ties and broader collaboration between Asia and the European Union (EU).
International Trade and Industry Deputy Minister Liew Chin Tong highlighted the importance of this move, particularly as global trade dynamics face significant disruption. Speaking at the grand launch of Generali Malaysia’s new headquarters, Liew stated, “We would like to see stronger collaboration between Malaysia and Italy, as well as greater partnerships between Asia and the EU.”
Liew is scheduled to meet Italy’s Ministry of Enterprise Deputy Minister Valentino Valentini at the Ministry of Investment, Trade and Industry (MITI) headquarters today. He underscored that countries are grappling with “a once-in-a-generation challenge” stemming from the lingering impact of former United States President Donald Trump’s tariff policies, stressing that international economic cooperation is now more crucial than ever.
“The relationship and economic cooperation between Malaysia, Italy, and between Asia and the EU is very important in navigating these challenges,” Liew emphasized.
Malaysia and Italy enjoy long-standing economic relations, particularly in key sectors such as machinery, chemicals, food and beverages, and the automotive industries. In 2024, total trade between the two countries reached RM14.6 billion, reflecting a 2% increase from the previous year.
In January 2025, Malaysia recorded exports worth MYR 528 million to Italy and imports amounting to MYR 678 million, resulting in a trade deficit of MYR 150 million. Compared to the same period the previous year, Malaysia’s exports fell by MYR 253 million (32.4%), declining from MYR 781 million to MYR 528 million, while imports rose by MYR 19 million (2.88%) from MYR 659 million to MYR 678 million.
Malaysia’s leading exports to Italy during the month included Inedible Fats and Oils (MYR 85.5 million), Air Conditioners (MYR 63.5 million), and Palm Oil (MYR 57.5 million). Meanwhile, top imports from Italy comprised Oscilloscopes (MYR 54.7 million), Jewellery (MYR 48.9 million), and Packaged Medicaments (MYR 40.7 million).
Liew’s meeting with Valentini is expected to lay the groundwork for new initiatives aimed at fostering sustainable growth and resilience in an increasingly interconnected global economy.
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