The EU Trade Policy Review 'An open, sustainable and assertive trade policy' was announced on 18 February. A number of elements are of interest or concern for Malaysia. At the same time, recently released GDP and trade data show the significant negative impact on Malaysia's economy, and how important it is for Malaysia to remain a welcoming, attractive destination for foreign investments.

Recent developments on the palm oil front, including the first meeting of the Joint Working Group on Palm Oil and the WTO consultations on the EU renewable energy policies, bring some optimism to the solution of this longstanding trade irritant. The focus is now on sustainable production from a social and environmental point of view, and the EU is ready to assist Malaysia in its efforts.

The COVID-19 emergency is not over yet but there is light at the end of the tunnel. The EU is delivering on its commitment to authorise exports of vaccines purchased by Malaysia.