Over the past 65 years, the relations between Malaysia and Japan have grown substantially. The implementation of the Look East Policy (LEP) since 1982 has been the main catalyst in consolidating the special bond of friendship between Malaysia and Japan, through strong cooperation, high-level interaction and people-to-people linkages.Indeed, our collaborative relations have led to greater momentum for our progressive bilateral partnership. With shared interests, Malaysia and Japan are partners in many areas on bilateral, regional and multilateral platforms.
Benefits have accrued over the years with technology transfers in strategic sectors that have constantly contributed to the overall industrial development of Malaysia. The LEP has succeeded beyond its original objective of fostering human resource development and capacity building grounded in Asian values. Our multifaceted collaboration under the LEP platform has enabled Malaysia and Japan to further advance a close and solid economic partnership over a wide spectrum of areas, notably in manufacturing, tourism, trade and investment.
Underpinned by Malaysia’s strong interest in economic collaboration, the LEP has since evolved, with the focus of LEP 2.0 shifting to trade and investment in 2013. Essentially, LEP 2.0 has engendered new partnerships across a wide range of socioeconomic cooperation that includes the halal industry, disaster management, health care, smart manufacturing and small and midsize enterprise development.
Bilateral trade with Japan has increased substantially, reaching 149.76 billion ringgit ($36.14 billion) in 2021, making Japan the fourth-largest trading partner for Malaysia. Japan is also one of Malaysia’s largest foreign investors in terms of implemented projects. As of 2021, a total of 2,709 manufacturing projects with Japanese participation are underway, with total investment worth 90.9 billion ringgit. These projects have generated enough jobs to employ 337,280 people.
As we commemorate the 40th anniversary of the LEP and the 65th anniversary of diplomatic ties between Malaysia and Japan this year, we are not only celebrating the achievements of the past, but also crystallizing prospects for the future. With our shared aspirations toward the future, I believe it is crucial for both countries to explore new and creative ways to deepen and widen our collaboration in areas of mutual interest, premised on the environmental, social and governance agenda. In this regard, Malaysia looks forward to the 2025 World Expo in Osaka for our two countries to forge further linkages in shaping a better future.
Last but not least, it is my hope that we will soon elevate our bilateral relations to a comprehensive strategic partnership, to concretize our collaboration in new areas in facing global challenges and moving us to a bright and strong future.
