Happening in Rome. Malaysian Prime Minister Anwar Ibrahim visited Rome this week to relaunch economic and political dialogue, with a focus on trade, strategic investments, energy, and regional stability.
- Bilateral trade is surging, supported by the “Sistema Italia” as Rome strengthens its Indo-Pacific outreach.
Decoding the news. Alongside institutional meetings, Anwar and key cabinet members participated in the Malaysia–Italy Economic Partnership Roundtable, which senior Italian government and industry representatives attended.
- The event marked a concrete step toward deepening economic ties between Italy and Malaysia, ASEAN’s third-largest economy, amid rising global competition for access to Asian markets.
By the numbers. Bilateral trade between Italy and Malaysia reached €3.1 billion in 2024, with Italian exports increasing by 23.4% to a total of €1.7 billion.
- The momentum continued in early 2025, as trade volumes grew by 26% in the first quarter alone, reaching €815 million, driven by demand for advanced industrial machinery, infrastructure, and defence.
- Italy is currently one of Malaysia’s largest trading partners in the EU.
- 150 Italian companies are active in the country, including key players such as Leonardo, Maire Tecnimont, STMicroelectronics, Saipem, Mapei, and Generali.
Why Kuala Lumpur matters. Malaysia is the world’s fifth-largest LNG exporter and has an advanced semiconductor industry.
- Talks are underway for a Malaysia-EU free trade agreement.
Who was there. Anwar was joined in Rome by Foreign Minister Mohamad Hasan and Trade Minister Tengku Zafrul Aziz.
- The delegation met with Italian Prime Minister Giorgia Meloni and Foreign Minister Antonio Tajani, who chaired the roundtable alongside 80 companies from both countries.
- Institutions including state lender CDP, export credit agency SACE, export and investment support arm SIMEST, and trade promotion agency ICE were also present.
- Anwar, accompanied by Petronas CEO Tengku Muhammad Taufik, also met with ENI CEO Claudio Descalzi.
Zoom in: Eni–Petronas deal. In June, ENI and Petronas signed a Framework Agreement in Kuala Lumpur, building on a memorandum of understanding signed in February.
- The joint venture strengthens ENI’s LNG position in Asia, leveraging 3 billion barrels of oil equivalent (boe) in reserves and up to 10 billion boe in potential, while enhancing Italy’s geopolitical footprint in the region.
- The talks covered the ongoing biorefinery project in Pengerang, which utilises ENI’s Ecofining technology to produce SAF and HVO biofuels.
- Further cooperation is expected in carbon capture and storage, as well as agri-feedstock production for renewable fuels.
Zoom out: global issues. Anwar and Tajani discussed the war in Ukraine and regional tensions in the Middle East, reaffirming their shared support for a ceasefire in Gaza and stability in the region.
- Anwar thanked Italy for its stance on Iran, saying Rome is “committed to peace and global security.”
- Sources told Decode39 that Anwar also exchanged views on ASEAN–Italy and ASEAN–EU relations, and met with the Malaysian diaspora and Muslim community leaders in Italy, promoting a message of moderation and social justice in the face of Islamophobia.
