ISTANBUL

China's global initiative "offers a new lease on hope" in an era where "economic tribalism" is growing and multilateral cooperation is under threat, Malaysian Prime Minister Anwar Ibrahim said after meeting China's President Xi Jinping on Wednesday.

“What we are witnessing today is not an honest reckoning with the imperfections of globalization, but a retreat into economic tribalism."

“Market access is being weaponized. What was once a multilateral covenant for shared growth now buckles under the weight of arbitrary disruption and unilateral whip,” Anwar said in Putrajaya.

The two leaders also signed 31 cooperation agreements ranging from AI to mutual visa exemptions and global security.

Malaysia is the second stop in Xi’s three-nation trip to Southeast Asia. He visited Vietnam, and will travel to Cambodia on Thursday.

Anwar’s comments come amid a raging trade war between the US and China which faces staggering 245% tariffs by Washington.

Beijing has imposed 125% tit-for-tat tariffs on US imports.

Anwar said Malaysia would remain an "unwavering and principled friend" of China.

"Facing the rise of unilateralism, Malaysia is willing to strengthen cooperation with China to jointly address risks and challenges," he added.

China is seeking to bolster ties with Southeast Asian economies after US President Donald Trump’s intensifying trade war. ​​​​​​

Xi also met Malaysia’s king, Sultan Ibrahim Iskandar, earlier in the day.