Malaysia is this year's chair of the Association of Southeast Asian Nations, or ASEAN – a key trading bloc encompassing more than 600 million people.
In recent years, ASEAN has been a key proponent of greater trade integration and liberalization, and countries like Malaysia have become very close economically with China.
Such strong regional economic integration is likely to be crucial, as the world faces the uncertainties of a second Trump administration.
Our correspondent Rian Maelzer sat down with Malaysian Economy Minister Rafizi Ramli.
RIAN MAELZER CGTN Correspondent "How successful do you think ASEAN has been at driving regional growth and driving the integration of the region and success of the region?"
RAFIZI RAMLI Malaysian Minister of Economy "In a world where blocs of countries have become more inward looking and protectionism begins to gain traction, I think ASEAN is almost like a safe haven because of its neutrality, because of its centrality, connectivity to major markets and also because of its population and the fact that we are young, we are very digitally savvy and it's expected to be very middle class in 10 to 15 years time. So the pragmatism of ASEAN countries to prioritize free trade, to collaborate with as many people as possible. I think ASEAN had done really well."
RIAN MAELZER CGTN Correspondent "China has been one of the major foreign investors in Malaysia, and is of course your number-one trading partner. How important are ties with China for Malaysia's economic health?"
RAFIZI RAMLI Malaysian Minister of Economy "Chinese companies have taken significant roles in major infrastructure developments in the last one decade or so. At this stage of our growth, we look up to how Chinese companies have been able to grow and retain that innovative and entrepreneurial spirit. That is very different from the conventional FDI model that countries like Malaysia had relied in the past. Now with the need for our economy to go up the value chain, it's the precisely kind of experience and innovation and entrepreneurial spirit and the whole ecosystem that have been successful in China that we need to emulate here."
RIAN MAELZER CGTN Correspondent "What about the global outlook, especially with the threat of tariffs, not only against China, but possibly against countries like Malaysia. How do you think this will impact Malaysia and the region?"
RAFIZI RAMLI Malaysian Minister of Economy "Countries like Malaysia has very limited options. What I feel, we need to do to insulate and manage the risks better is by doubling down to build more resilient and to be stronger in the value chain that we already are making significant contributions to the world. I think that is a better way to manage the risk we have to contend in the globalized situation we have now."