Malaysia Stands to Benefit from Belt and Road Initiative

Malaysia Stands to Benefit from Belt and Road Initiative

MALAYSIA STANDS to reap benefits from the Chinaproposed Belt and Road Initiative, a Malaysian government report said,noting the Initiative is integrating economic resources and aligning policies to promote shared development among regions.

According to the Economic Report 2017/18,which was released on Oct. 27 by Malaysian Prime Minister Najib Razak, the Belt and Road Initiative,as a huge plurilateral arrangement, will bring about mutual benefits for all participating countries,including Malaysia.

The Initiative will enhance ASEAN's integration and connectivity strategies and simultaneously strengthen the ASEAN-China Free Trade Agreement (ACFTA) in exploring mutual business opportunities, it said.

However, the report warned that the implementation of the Initiative, which involves various political environments with differing laws and regulations, might potentially result in crossborder differences and institutional challenges.

"In this regard, all participating governments need to play their role in facilitating the situation when divergence and variation arise," the report said.