Malaysia-Thailand to leverage halal, rubber strengths to unlock higher-value global opportunities

Malaysia and Thailand can use their respective strengths in halal and rubber industries to unlock higher-value global opportunities, said Economy Minister Akmal Nasrullah Mohd Nasir. He emphasized that economic cooperation should be measured not just by trade volume, but also by the value created through collaboration. The relationship between Malaysia and Thailand is not only about proximity, but also has significant potential beyond bilateral trade.

At the 3rd Economic Forum 2026, Akmal highlighted the development of the Perlis Inland Port and projects like Chuping Valley and Kedah Rubber City as ways to enhance cross-border economic activities. For the rubber industry, he noted that Thailand's upstream strength could complement Malaysia's downstream capabilities, creating greater potential.

The two countries aim to reach US$30 billion in bilateral trade by 2027, coinciding with the 70th anniversary of their diplomatic relations. Akmal suggested exploring opportunities in electrical and electronics, as well as semiconductors. Thailand's Ambassador to Malaysia, Lada Phumas, said the forum enabled public and private sectors from both nations to engage and translate commitments into action.

She pledged Thailand's commitment to continue the forum next year, with areas of cooperation expanding based on potential opportunities. In 2025, bilateral trade between Malaysia and Thailand amounted to US$28.24 billion. Both countries aim to intensify efforts to expand the halal ecosystem, including pharmaceutical products and cosmetics, to achieve the US$30 billion target by 2027.