KUALA LUMPUR: Malaysia and Japan have been urged to explore new areas of cooperation on environment, sustainability and governance (ESG) as both nations commemorate the 40th anniversary of the Look East Policy (LEP).
Prime Minister Datuk Seri Ismail Sabri Yaakob said the areas included cooperation in the management of disasters and crises; issues related to the ageing society, green growth, digital economy as well as science, technology and innovation.
He said related projects and programmes could be implemented under the LEP initiative.
"Based on the long standing, deep Malaysia-Japan trade ties, I would like to also propose for both nations to explore new areas of cooperation that could resolve issues enveloping the trade supply chain.
"And I believed these issues could be addressed and resolved by capitalising the LEP platform," he said in his keynote address at the launching of a business seminar to commemorate the 40th anniversary of the LEP between Malaysia and Japan.
The address was read by Senior International Trade and Industry Minister Datuk Seri Mohd Azmin Ali.
In attendance was Japan's Parliamentary Vice-Minister of Economy, Trade and Industry, Iwata Kazuchika.
Over the past four decades, Ismail Sabri said cooperation between Malaysia and Japan, which is now centred on sectors related to technological revolution, had changed the industrial and economic landscape in the region.
Japan, said Ismail Sabri, was the fourth largest and one of the main sources of foreign investment for Malaysia.
"I am proud that the bilateral economic ties between both nations have continue to prosper through the increase in bilateral trade since the LEP was introduced," he said.
Japan's expertise in artificial intelligence (AI), robotic, autonomous system and Internet of Things (IoT), said Ismail Sabri, could strengthen and ensure sustainability of the LEP for many years in the future.
"Therefore, it is my hope that the Japanese government will continuously provide its strong back towards efforts and encouragement in these sectors via the LEP.
Ismail Sabri also cited several other spill overs from the LEP that had benefited both nations as well as demonstrated Malaysia's capabilities that was reflected in the development of the halal industry in Japan.
"As the pioneer of the global halal industry, Malaysia will certainly continue to help Japan which has deep interest in developing its own halal industry," he said.
Ismail Sabri reiterated the suggestion he made during a meeting with Japanese Prime Minister Fumio Kishida at the 27th Nikkei International Conference for both Malaysia and Japan to develop the existing ties into a comprehensive partnership.
"This year is special since it is the 65th anniversary of the diplomatic ties between Malaysia and Japan, as well as the 40th anniversary of the LEP.
"I would also like to record my appreciation to the Japanese government as well as the Malaysia-Japan trade community for their contribution towards economic recovery especially during the first quarter of the year," he said.