Marcos' state visit to Malaysia expected to enhance bilateral trade

An official from the Department of Foreign Affairs (DFA) said Friday that President Ferdinand "Bongbong" Marcos Jr.'s state visit to Malaysia is expected to enhance bilateral trade and investments between the two countries.

Marcos and First Lady Ma. Louise "Liza" Araneta-Marcos will leave for Kuala Lumpur next week for a state visit upon the invitation of the King of Malaysia.

During the visit, Marcos will have a bilateral meeting with Prime Minister Anwar Ibrahim to identify new areas of synergy, DFA spokesperson Ma. Teresita Daza said.

"During the visit, the Philippines will also meet with prominent Filipino and Malaysian business leaders to enhance bilateral trade and investments and to explore economic opportunities for the Filipino people," Daza said during a Palace briefing.

"This reciprocal visit between the leaders of both countries in 2023 is a testament to the reintegrated relationship between the Philippines and Malaysia," she added.

In a separate interview with reporters, Daza said Marcos' talks with Ibrahim will include discussions on agriculture, food security, tourism, digital economy, tourism, and people-to-people exchanges.

Further, new areas of cooperation will be tackled such as the Halal Industry and the Islamic banking.

Given that Malaysia is among the Philippines' top ten trading partner and 22nd source of approved investments of the country in 2022, the government is hoping that the meeting with Malaysian businessmen will generate investment pledges.

Asked if the Maharlika Investment Fund will be discussed with business leaders, Daza said, "Yes, it's very safe to presume and assume. It's pretty safe to assume that it will maybe raised and promoted during this visit."

The DFA official, however, did not disclose the specific agreements that will be inked during the state visit.

Daza also said Marcos would also visit the Filipino community in Malaysia.

"He will be meeting with the Filipino community. That is one of the official programs of the president. And it's safe to assume that the programs of the government relative to the welfare, the promotion of the welfare of our migrant workers will be raised," Daza said. —VAL, GMA Integrated News