On the first stop of her official visit to Malaysia, Vietnam and Japan, Foreign Minister Diana Mondino arrived in Kuala Lumpur, where she began to develop an extensive agenda of meetings with the highest political authorities, leading companies and investment funds.
In this context she was received by the Malaysian Prime Minister, Anwar Ibrahim, and several Ministers of his cabinet.
Argentina’s Foreign Minister expressed to the Prime Minister that Argentina values its relationship with Malaysia and the historical friendship between the two nations. Both officials also agreed that the visit offers an ideal context to deepen the common agenda, increase economic relations and expand cooperation in all areas of bilateral interest.
Previously, in the meeting held with her Malaysian counterpart, the Minister of Foreign Affairs, Utama Haji Mohamad bin Hasan, both agreed on their intention to foster the bilateral relationship, particularly by promoting trade and investments, taking into account that the bilateral economic relationship has great potential for expansion and diversification. The Argentine Foreign Minister pointed out that “it is necessary to advance in opening markets to increase the volume of bilateral trade.”
Malaysia is the 4th destination for Argentine exports to Asia and the trade exchange has historically been in surplus for our country. In that regard, Minister Mondino highlighted the need to diversify exports that are currently concentrated in the soybean complex. In this sense, she referred to the need to resolve the authorizations for the halal import of offal, as well as fruits and vegetables necessary to ensure Malaysia's food security.
Mondino also indicated that with the reforms being proposed by President Javier Milei, the national government will be able to create the conditions to strengthen the economic link with Malaysia. Likewise, she highlighted the potential of Petronas' investments in our country to boost hydrocarbon exports from Argentina to other destinations.
It should be noted that Malaysian companies invest in important Argentine economic sectors, including agriculture, construction and energy. Meanwhile, Argentine companies have found an attractive market in Malaysia to establish themselves with leading firms in the agricultural machinery, vitamins and veterinary supplements sectors.
In her meeting with the Minister of Agriculture and Food Security, Mohamad Bin Sabu, Mondino conveyed Argentina's firm interest in obtaining the authorization of new meat and dairy export establishments with Halal certification. In this regard, JAKIM, the local religious authority, offered to hold training courses for interested establishments and certifying agencies. The Malaysian agricultural agency MARDI expressed its interest in continuing cooperation with its counterparts at INTA, in order to deepen the relationship between both institutions in the corn and livestock sectors, among other fields. “We hope that positive results will soon be achieved with the collaboration of the religious authority JAKIM on this issue,” said Argentina’s top diplomat.
She also highlighted the favorable evolution of bilateral trade - with prospects of increase this year - and the willingness to incorporate new products into the baskets of goods that are part of the exchange.
Later, together with Deputy Minister of Investment, Trade and Industry, Liew Chin Tong, Mondino led a roundtable with Malaysian companies and investment funds, including Petronas, Sri Inderajaya Holdings, IJM Corporation Berhad, Valiram and investment funds, Khazanah Nasional and the Employees Provident Fund, to whom she provided a detailed overview of the structural reforms being carried out by the Argentine Government, which "will allow for a favorable business climate for Malaysian companies to invest with greater certainty."
Furthermore, the Foreign Minister valued the relationship with Malaysia and, in that sense, stated that that country constitutes a market of great interest for Mercosur. Along these lines, she indicated that she will encourage the bloc's partners to work in a timely manner on the terms of reference to lay the foundations for a future negotiation of a Free Trade Agreement between MERCOSUR and Malaysia.
Concerning energy matters, Foreign Minister Mondino highlighted that “we are working on new legislation to promote large investments, including the development of Liquefied Natural Gas (LNG) projects, which could give new impetus to the announced YPF - Petronas megaproject. The production and export of hydrocarbons in our country is growing at a rapid pace and we hope it will continue to increase.”
At the end of the day, Mondino was received at the Petronas Towers (Twin Towers) by members of the Board of Directors of the company with whom she toured the facilities designed by the prestigious Argentine architect César Pelli, who passed in 2019. As a tribute, the Argentine Foreign Minister presented a commemorative plaque of the architect to the directors of Petronas.
