1:51pm 14/09/2021
Asean is China’s largest trading partner with US$685b bilateral trade

KUALA LUMPUR, Sept 14 (Sin Chew Daily) — The National Chamber of Commerce and Industry of Malaysia (NCCIM) calls for enhanced collaboration between China and Asean through top-notch technology and digitization for the supply chain to operate in full in order to assist in economic recovery.

NCCCIM president Datuk Low Kian Chuan said he hoped the One Belt One Road and the Regional Comprehensive Economic Partnership (RCEP) initiatives would be implemented for respective countries to enjoy the benefits.

Low, who is also president of the Associated Chinese Chambers of Commerce and Industry Malaysia (ACCCIM), joined the 18th China-Asean Business Leaders Forum held in Nanning, China, via video conferencing.

In his speech, Low said bilateral trade between Asean and China hit US$685 billion (RM 2,842.75 billion) last year, an increase of seven per cent compared to the previous year.

Asean became China’s largest trading partner for the first time.

The forum was held in conjunction with the China-Asean expo where chambers of commerce from 10 Asean countries were the co-organizers.

Low said this year is the 30th anniversary of China-Asean Dialogue Relations and bilateral trade grew by 85 times during the last 30 years.

Bilateral trade between China and Malaysia grew by four per cent and China’s investment in Malaysia’s manufacturing sector grew by 10 per cent last year.

Malaysia’s exports to China hit a new record while China remained the largest trading partner for Malaysia for a consecutive 12 years.

At the forum, China and the chambers of commerce of 10 Asean countries jointly launched the collaborative initiative between China and Asean on joint construction and sharing of the new access in land and sea.

Michael Chai, secretary-general of NCCIM, also joined the virtual discussion on new opportunities and legal services under the RCEP through video conferencing.

Chai said the RCEP would enhance business collaborations among Asean and offer more business opportunities.

With more demand in collaborative trade, investment and services, the RCEP would explore more business opportunities outside the region to have cross-border trade and services, he said.

Malaysian exporters would see more opportunities and a better business environment in other countries in Asean, he said.




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