00:005, 4, 3, 2, 1
00:06Firstly, trade negotiations are a complex multi-stakeholder process.
00:16So relevant ministries and agencies must be consulted to minimize conflict
00:22and to ensure smooth implementation post-negotiation.
00:28And for context, the average length in terms of duration for a negotiation is usually 18 months.
00:37And our record one is 11 months.
00:40The ambassador of UAE is here.
00:42That was our comprehensive economic partnership agreement between Malaysia and UAE,
00:46which was concluded within 11 months.
00:50So we need to be realistic about a trade deal that can be completed within 90 days.
00:56And of course, as mentioned by Dr. Syriza Marikan, we have till 1st of August to conclude this.
01:05Secondly, there are several red lines that our government will not cross in trade negotiations.
01:13We will not sacrifice the country's sovereignty or sideline other trading partners.
01:20I think many of you who are here are also our trading partners to try to close a deal.
01:27Our people's rights, our country's sovereignty and trust with our valued partners are not bargaining chips.
01:35Thirdly, the devil is always in the details, right?
01:41Our negotiating stance is always to ensure that whatever deal we land on,
01:48we must support the economic growth of the country.
01:52We must support the country's economic reforms and sustainable growth policies.
01:57You know, you can have catchy, feel-good headlines.
02:01They might last a week, maybe a month the most.
02:05But poor deals will have long-term consequences on our people, on our industries,
02:11including the healthcare industries and economy.
02:14So I am certain negative long-term outcomes are not what the public wants,
02:20nor what the future and current taxpayers need.
02:24So our objective is simple.
02:26We want to ensure that any agreement supports an open, rules-based and fair multilateral trade
02:34with WTO at its core.
02:38The agreement must also safeguard market access
02:41while recognizing the need of emerging countries and all countries,
02:46just like Malaysia, to develop sustainable supply chain and economies.
02:51So we will continue to uphold the principles of positive reciprocity and fair competition
02:58while working alongside industry to innovate, diversify, and maintain our resilience in the global market.
03:06These developments are also strong reminders of how and why we must always be ready,
03:14we must always be agile, and we must be adaptable to external shocks.
03:18The global medical devices market is actually projected to grow 63% from RM2.53 trillion last year
03:27to RM4.13 trillion by the year 2032.
03:32And the global healthcare sector has proven to be not only just resilient,
03:37but also transformative, offering immense opportunities in medical devices,
03:42pharmaceuticals, biotechnology, and digital health solutions.
03:46And thanks to our strong industrial reform agenda, robust industrial ecosystem,
03:53progressive policies, and of course investor-friendly environment,
03:56and we have a skilled industry-ready workforce,
04:01Malaysia healthcare industry is well-positioned to capture this growth.
04:05From pharmaceutical and medical devices to healthcare services and medical tourism,
04:09this sector is a catalyst for high-value job creation, innovation, and exports.
04:17So I am happy to share that in 2024 alone, and as mentioned by Dr. Sri Rizal earlier,
04:24the medical devices and pharmaceutical industries garnered, in terms of investments,
04:29about RM2.13 billion for the year 2024,
04:33and creating over 2,700 high-value jobs across manufacturing, R&D, and regulatory services.
04:42And today, eight of the world's top 30 medical devices companies have established operations in Malaysia.
04:49And we are home to over 300 healthcare companies, comprising both MNCs and domestic players.
04:55And our MNC partners lead in producing advanced products, and we will see during this event.
05:04All I have shared today are reasons on why we wanted to host the International Healthcare Week,
05:10the first of its kind in Malaysia.
05:13IHW is not just a healthcare event, it is a strategic platform that brings together global thought leaders,
05:20innovators, policymakers, and investors to shape the future of our region's healthcare.
05:27And it reflects our commitment to drive innovation, accelerate growth, and forge global partnerships
05:35that will define the next chapter of Malaysia's healthcare story.
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