Prime Minister Datuk Seri Anwar Ibrahim's visit to Brazil from November 16 to 19, 2024, has ignited a significant partnership between Malaysia and Brazil, particularly in the semiconductor industry. During his visit, Anwar highlighted Malaysia's position as the sixth-largest semiconductor exporter globally, with exports exceeding US$85 billion. In comparison, Brazil's semiconductor exports reached approximately US$1.2 billion in 2022 [491e6d6d].
The discussions included a roundtable with 34 corporate leaders from 20 companies, indicating a strong interest in fostering business relationships and investment opportunities between the two nations. Notably, two memoranda of understanding were signed, further solidifying the commitment to collaboration in the electrical and electronics (E&E) sector [491e6d6d].
Anwar's agenda also included discussions on United Nations Security Council (UNSC) reform during the G20 summit, where he met with global leaders such as Emmanuel Macron and Cyril Ramaphosa. These discussions reflect Malaysia's broader diplomatic efforts and its recent membership in the Global Alliance Against Hunger and Poverty [491e6d6d].
The partnership with Brazil is particularly strategic as Brazil is Malaysia's 20th largest trading partner and the largest source of imports in Latin America. This collaboration aligns with Malaysia's ongoing strategy to enhance international partnerships and diversify its economic relationships, as demonstrated by recent agreements with New Zealand to boost bilateral trade by 50% by 2030 [2bf9eb0e].
As Malaysia continues to strengthen its position in the semiconductor industry, the collaboration with Brazil presents an opportunity to leverage both nations' strengths, fostering innovation and growth in the E&E sector [700482a0].