PM calls for robust collaboration with Global South

LIMA (Peru): Prime Minister Datuk Seri Anwar Ibrahim today stressed the importance of strengthening ties with the Global South, highlighting the vast untapped potential and emerging opportunities in this region.

"It's crucial to shift course slightly and enhance collaboration with the Global South, tapping into the vast new potentials and opportunities," he said in his opening remarks during the roundtable with captains of industry from Malaysia and Peru here Wednesday.

The Prime Minister is here for his official visit and also participation in the APEC Economic Leaders Week (AELW). Also present were Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz.

Anwar, who is also the Finance Minister, said historically, the focus has been on a narrow set of partners, but the changing global dynamics present a compelling case for broadening the horizons and diversifying alliances.

He reiterated that while the United States remains Malaysia's top investor, Putrajaya also has strong trading partnerships with China, "and we are collaborating effectively in multiple areas. That is the way forward."

"We should not be dictated to by anyone; instead, we must be guided by what is best for our country, as determined by our own people.

"I believe Malaysia and Peru share the same perspective. We need to remain open and neutral. In ASEAN, we call it centrality," he said.

Anwar said both countries share several major concerns, as both the countries are multiracial, and are working to bring about change and transitions within their respective nations.

"Peru has policies on energy transition, environmental transition, and multilateralism, as well as investment, trade, governance, and anti-corruption efforts."

"All these areas are critical, and I express that now is the time to take concrete actions," he said.

He said alignment of some of the policies between Malaysia and Peru are encouraged, as both countries are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

"We are now closely linked through ASEAN and the Asia Pacific Economic Cooperation (APEC)."

Meanwhile, Anwar also launched Yinson Holdings Bhd's Matarani Solar Park in Peru.

Yinson Renewables has completed the acquisition of the 97 MWp Matarani Solar Project in Peru from Grenergy Renewables, an international independent power producer, developer, and engineering, procurement, and construction company with a strong track record in Latin America.

The project is located in the Mollendo desert in the Arequipa region, one of the world's highest solar irradiation areas.

Most of the project's energy has been contracted through a power purchase agreement with a bankable off-taker for the next 15 years.

Project Matarani had recently entered commercial operation injecting about 260 GWh of renewable energy into the Peruvian grid annually, enough to satisfy the energy needs of about 62,000 Peruvian households and prevent the emission of more than 56,000 tonnes of carbon dioxide per year.

-- BERNAMA

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