Like the rest of the world, Malaysia’s economy suffered greatly from the trade and travel disruptions caused by COVID-19.
In 2020, exports of goods and services fell 8.5 per cent, foreign direct investments fell 55 per cent and tourist arrivals plunged 83 per cent.
External trade is a key pillar to Malaysia’s economy. Restarting the sector will require a multi-pronged effort towards safe inter-regional travel, besides bolstering regional integration of trading systems in Southeast Asia.
To this end, all the relevant government ministries and agencies need to work together to create post-COVID health standards such as digital vaccination certificates and COVID-19 testing to best manage the coronavirus without having to again fall back on isolationist policies.