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Malaysia-China trade up 11% in H1

  • Malaysia-China trade amounted to almost US$57.4 billion in the first half of this year, up 11% compared to the corresponding period last year. Photo courtesy: Sin Chew Daily

KUALA LUMPUR (Sin Chew Daily) -- Malaysia leads other Asean countries in bilateral trade volume with China.

Malaysia-China trade amounted to almost US$57.4 billion in the first half of this year, up 11% compared to the corresponding period last year, said Chinese Ambassador to Malaysia Mr Bai Tian.

Bai said during the opening ceremony of "Striving to Shared Prosperity" photo exhibition organized by Chinese Enterprises Association in Malaysia to mark 45 years of diplomatic relationship between the two countries that he believed Sino-Malaysian trade would set a new record this year.

“When Malaysia and China established formal ties 45 years ago, the volume of bilateral trade was under US$200 million. The volume hit a record high of US$108.6 billion last year,’’ he said, adding that China had been Malaysia’s largest trading partner for a decade now.

China has invested in 440 projects with a total of 77,000 job opportunities created in Malaysia as of end-March this year.

“The first batch of frozen whole Musang King durian was exported to China on June 1. I hope more Malaysian fruit will be exported to China in future.

"When I was back in China for a meeting last month, I bought a whole Musang King durian in supermarket and enjoyed it with my colleagues at the Foreign Affairs Ministry."

More Chinese companies are making Malaysia their preferred investment destination, collaborating with their Malaysian partners at industrial parks as well as manufacturing, finance, information technology, digital economy and other sectors.

The photo exhibition is held for three days from Wednesday at Avenue K shopping mall in Kuala Lumpur. More than 100 historical photographs are on display to showcase the milestones achieved by both countries over the decades.

Ambassador Bai said China's cumulative direct investments in Malaysia stood at US$11.6 billion. China has been the largest source of foreign funds in the country's manufacturing sector during the past three years, investing in 440 projects with the creation of some 77,000 job opportunities.

Bai Tian was confident that China would remain the largest source of foreign direct investments in Malaysia this year.

He gave his compliments to the Chinese Enterprises Association in Malaysia for its unrelenting effort in promoting friendship between the two countries, trade cooperation as well as its remarkable contribution to the local society, and has created an excellent business environment by contributing to both social and economic developments of Malaysia.

“There are 140 members in the association now and I hope Chinese companies will continue to promote interactions between our two countries and pragmatic collaboration as the bridging role, making an even greater contribution towards Sino-Malaysian ties.”

Bai said the more than 100 historical photographs on show at the exhibition bear testimony to the cordial friendship between China and Malaysia, reflecting the success in pragmatic collaboration.

Chinese companies based in Malaysia are penetrating into rural areas while taking up corporate social responsibilities through the twin industrial parks and the joint venture between Geely and Proton, first digital free trade zone with Alibaba, East Coast Rail Link and others.

He said he was looking forward to more people initiating pragmatic collaboration based on the friendship between China and Malaysia, riding on the opportunities to share benefits in development.

"The good ties between China and Malaysia are set to scale greater heights in future.”

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