INVESTMENT, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) reiterates Malaysia’s commitment to defending national interests in its trade talks with the US, particularly in the face of Washington’s tariff measures that have already affected neighbouring Indonesia.

“For us, we are still in the fight. Negotiations are ongoing until Aug 1 and it is important that any agreement brings benefits to both countries… it must be win-win,” he said after opening the International Healthcare Week 2025 (IHW 2025) today.

Tengku Zafrul confirmed that for now, Malaysia remains subject to a 10% tariff, though key strategic sectors such as pharmaceuticals and electrical & electronics (E&E) — including semiconductors — remain exempt.

The government is still awaiting a formal announcement from Indonesia and no final determination has been made on Malaysia’s full tariff exposure.

He stressed that Malaysia will not compromise on sovereignty or on strategic industries during negotiations, particularly those governed by national security legislation.

“There are issues we cannot compromise on such as national sovereignty and our strategic industries,” he added.

Tengku Zafrul also stated that any deal with the US must be equally applicable to other trading partners, including ASEAN, the European Union (EU) and China.

He added that consultations with domestic industries are still ongoing and that many of the strategic sectors involved fall under strict security regulations.

As such, details remain confidential until negotiations are finalised.

Meanwhile, Malaysia is utilising IHW 2025 to project its healthcare sector as a major driver of industrial growth, job creation and regional collaboration.

The event brought together global healthcare leaders, policymakers and investors under one roof to discuss the future of healthcare in ASEAN and beyond.

“IHW 2025 is not just an event; it is a declaration that Malaysia is ready to lead, to collaborate and to build a healthier, more resilient future not just for our nation, but also for the world,” said Tengku Zafrul during the launch.

Malaysia’s healthcare sector recorded RM2.13 billion in investments in 2024, creating over 2,700 high-value jobs in manufacturing, R&D and regulatory services.

Eight of the world’s top 30 medical device companies have already set up operations in Malaysia, signalling the country’s growing role as a global healthcare hub.

IHW 2025, jointly organised by Malaysia External Trade Development Corporation (MATRADE) and Informa Markets, is expected to generate tangible business outcomes and catalyse new partnerships, particularly as Malaysia chairs ASEAN in 2025.

The event is a strategic component of the country’s broader industrial reform and regional leadership agenda.