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Malaysia Prime Minister Anwar Ibrahim said Thursday that ‌state energy firm Petronas would give priority ​to providing Australia with ‌its excess fuel supplies, as the two ‌countries sought to ⁠bolster ‌energy security following the ‌disruptions caused by the Middle East conflict.Anwar said he had ⁠obtained an assurance from Petronas on the matter following discussions with his Australian counterpart Anthony Albanese on boosting agricultural and fuel trade."The priority is for domestic requirements... but here is where negotiations among friends are critical," Anwar said at a press ​conference after the meeting at his office in Malaysia's administrative capital Putrajaya.Malaysia also requires mineral phosphates from Australia, which it ‌could offer in exchange ⁠for urea ​supplied to Canberra, Anwar said.Malaysia is Albanese's third ​stop in Southeast Asia in the past week, following trips to Singapore and Brunei, as Canberra looks to shore up food and energy supplies.Albanese said his government had secured an additional 100 million litres of diesel from two shipments, one from Brunei and one from South Korea."This is the first of many expected shipments secured ‌under the government's new ‌strategic reserve powers with ⁠the support of Export Finance Australia," he said.Australia also ⁠pledged to ⁠honour existing contracts with Malaysia, despite disruptions, Albanese said.Australia is a major supplier of natural gas to Malaysia, which imports about 20% of its domestic supplies, as well as a provider of wheat, lamb and beef ​products.Anwar and Albanese also witnessed the signing of a memorandum of understanding between the two countries on halal meat trade, a deal that the Australian leader said would boost the country's red meat exports and support Malaysia's food security.Majority-Muslim Malaysia is widely considered as a global leader in halal processing due to its ‌established certification standards. 

Malaysia is intensifying efforts to expand halal trade with economies in the Middle East, positioning its halal industry as a global economic model that emphasises trust, quality, and shared cultural values, Minister of Investment, Trade and Industry Tengku Abdul Aziz has said.The minister made the statement during the recent launch of the Global Halal Summit (GHAS) 2025, where Malaysian Prime Minister Anwar Ibrahim spoke on the importance of the Southeast Asian nation’s role in promoting the halal industry through events like the Malaysia International Halal Showcase (MIHAS) 2025, which concluded Saturday in Kuala Lumpur.Speaking at the launch event, held in conjunction with MIHAS 2025, Aziz stated: “...by catalysing Asean’s FTA negotiations with Australia, China, India, the GCC, and many others, Malaysia is effectively starting to build interoperable halal value chains across Asean, the Middle East, and even Africa. “Underscoring Malaysia’s leadership in forging a South-South trade ecosystem, Aziz said the ministry has pushed for the internationalisation of MIHAS, which made its debut in the Gulf Co-operation Council (GCC) via ‘[email protected] pointed out that MIHAS@Dubai helped in providing access for Malaysian businesses and small and medium-sized enterprises (SMES) to markets across the Middle East and North Africa (Mena) region.Aziz announced that the Malaysia External Trade Development Corporation (MATRADE) will be organising the next international edition of MIHAS in Shanghai, China, under the MIHAS@Shanghai initiative this coming November.“MIHAS@Shanghai will bridge gaps, open access to multi-billion-ringgit markets, as well as enhance multilateral trade and investment. It will also elevate Malaysia and Asean’s position as the preferred halal trading partner and production hub in the Asian region,” he explained.Aziz also said: “By expanding halal trade, Malaysia is not only capturing value from a fast-growing global sector, but also hedging against volatility in traditional commodities, while reinforcing our role as a bridge between the Muslim world and global markets.“...at a time when geoeconomic competition is driving nations to secure resilient and diversified supply chains, halal offers Malaysia a strong edge that can anchor our SMEs and exporters in new growth markets across Asean, the Middle East and Africa.”In a keynote speech at the launch of GHAS 2025, the prime minister announced that Malaysia is leveraging its leadership in the halal economy as a strategic tool of economic diplomacy, underscoring the country’s 11-year reign atop the Global Islamic Economy Indicator (GIEI).“Malaysia’s excellence is particularly evident in Islamic finance, halal food, as well as media and recreation. This is a result of the government’s concerted effort to position the halal industry as one of the central pillars of the nation’s strategic growth,” Ibrahim said, citing the Halal Industry Master Plan (HIMP) 2030 and the New Industrial Master Plan (NIMP) 2030 as clear pathways “to position Malaysia as the world’s leading halal hub.”He added: “Under the Thirteenth Malaysia Plan (13MP), significant funds are allocated to further boost the growth of the halal sector. In return, the sector is projected to contribute RM231bn or 10.8% to the national GDP by 2030, driven by strong demand in food, finance and tourism. By way of comparison, the global halal market is valued at over RM16.02tn and is expected to reach RM22.88tn by 2030.