KUALA LUMPUR: Investment, Trade and Industry (MITI) Minister Datuk Seri Johari Abdul Ghani said he will review Malaysia's trade agreements with the United States and renegotiate any terms considered unfair.
"We cannot reverse what has already been signed, but in this meeting, we want to identify areas that may need renegotiation, where terms are not fair, for example. This is not a point of no return. If something is unfair, it must be negotiated," he told reporters, referring to the agreement on reciprocal trade (ART), on his first day in office at MITI Tower today.
The minister said that protecting and strengthening Malaysia's economy is critical amid rapid changes in the global landscape.
He noted that key economic indicators are showing uneven growth in Malaysia's trade and small and medium-sized enterprises (SMEs) sector.
While Malaysia's gross domestic product (GDP) has grown over the past decade, contributions from SMEs have only risen marginally over the past 10 years, from 37 per cent in 2015 to 39 per cent in 2024. Total trade has nearly doubled from RM1.2 trillion in 2015 to RM2.2 trillion in 2024, but the trade surplus fell from 8.6 per cent to 5.4 per cent.
"SMEs are not developing at the pace we need, so the benefits of trade growth are not fully reaching all sectors," he said.
Johari added that his focus is not on immediate miracles but on assessing statistics and formulating strategies to protect the nation's economy.
"All developed countries are increasingly looking inward and protecting their own markets. We need to do the same, but strategically, without alarming the public," he said.
His early efforts will include assessing economic data, consulting ministry officials, and presenting informed recommendations to the Cabinet.
Johari's appointment was announced by Prime Minister Datuk Seri Anwar Ibrahim on Tuesday as part of a cabinet reshuffle. He succeeds Tengku Datuk Seri Zafrul Abdul Aziz, whose senatorship concluded on Dec 2.
He previously served as Minister of Plantation Industries and Commodities and, since July, had also overseen the Natural Resources and Environmental Sustainability Ministry following the resignation of Nik Nazmi Nik Ahmad.
Sim Tze Tzin, Member of Parliament for Bayan Baru, was named Miti deputy minister, replacing Liew Chin Ting, who now serves as deputy finance minister.
Source: https://www.nst.com.my/business/economy/2025/12/1338984/johari-ghani-pledges-review-us-trade-agreements-focus-smes-and?source=widget