KUALA LUMPUR – Malaysia is unlikely to suffer severe repercussions for its support for Palestine, as much of the rhetoric is political grandstanding, political observers said.
Geostrategist Prof Azmi Hassan from Akademi Nusantara said that although Malaysia is a small country, it does not depend solely on any pro-Israel superpower, including the United States, whether for trade or for security.
“Every relationship (Malaysia) makes, geopolitically and economically, is a win-win situation.
“In my opinion, there might be negative action from Western countries, but that negative impact would be worth it, and it would align with our stand (to defend Palestine).
“Gazans are receiving more pressure than us,” he told Scoop.
Observers were asked to comment on Prime Minister Datuk Seri Anwar Ibrahim’s remarks that he had received threats and warnings from those supporting Israel’s Zionist regime, which is waging war on Gaza in retaliation for the October 7 attacks by Hamas.
Azmi said that he does not believe Malaysia will face geopolitical or economic consequences because the country has been able to maintain independence in ongoing geopolitical disputes such as the one in the South China Sea.
“For example, in the South China Sea conflict, we are caught between China and the US. The good thing about our foreign policy (is that) we do not take sides. So, in this case, the pressure that the US wants to impose on China won’t significantly impact us,” Azmi said.
“But it would be different if we were entirely dependent on the US to face China; the US could put pressure on Malaysia by reducing aid or support, for example.
“This is not limited to the South China Sea issue alone, because our foreign policy is neutral. So even (if) there is a negative impact (from defending Palestine), we can still dodge it easily,’ he added.
Azmi also considered the warnings Anwar mentioned as “mere threats” and part of diplomatic wrangling.
Meanwhile, economist Barjoyai Bardai from Universiti Tun Abdul Razak said repercussions, if any, on Malaysia’s economy and trade would only be short term.
He noted that Malaysia has long voiced support for Palestine, but this has not deterred Western investors from coming here.
“The (Israel-Palestine conflict) has been going on for 76 years, and nothing has happened (in terms of the economy). US investors still come here to invest,” he said.
Barjoyai said that if Israel boycotts Malaysia, it will have little impact as there are no formal ties between the two. If Israel’s allies boycott Malaysia, China and Singapore will still remain Malaysia’s largest trading partners. The US is our third largest trading partner.
Similarly, economist Samirul Ariff Othman, senior consultant at Global Asia Consulting, agreed that there would be little impact on Malaysia from the recent statements made by Anwar defending Palestine.
“Former prime minister Tun Dr Mahathir Mohamad used to make more alarming statements. Still, it didn’t stop investors from coming and investing in Malaysia,” said the former senior researcher at the Malaysian Institute of Economic Research.
Current geopolitics notwithstanding, Malaysia and its foreign exchange will be attractive to investors if it focuses on improving the local economy and increasing good governance, said economist and former top civil servant Tan Sri Ramon Navaratnam. – October 27, 2023