Boost for Malaysia-China trade and investment ties
12 Jan 2023
The Department of Commerce of Guangxi Zhuang Autonomous Region and the “Belt and Road Initiative” Committee of Malaysia on Tuesday signed a Memorandum of Economic and Trade Cooperation (METC) and a number of trade and procurement contracts or investment cooperation projects marking a venture between the enterprises of the “Two Countries and Twin Parks” of China and Malaysia.
The signing covers among others palm oil procurement, timber products export, manganese ore procurement, solar module sales, Elvis Durian and bird’s nest procurement.
Present at this signing during the promotion and exchange meeting were representatives from Nanning Customs, Malaysia East Coast Economic Development Council, Malaysia-China Kuantan International Logistics Park, China-Malaysia Qinzhou Industrial Park, Beihai Economic and Technological Development Zone, Wuzhou Economic and Technological Development Zone, Guangxi China-Malaysia Haisheng International Registration and Settlement Company Limited, Guangxi Supply Chain Group Limited and others.
The team from China was led by the Department of Commerce of Guangxi Zhuang Autonomous Region and this is their first economic and trade delegation to visit Malaysia in the past three years with the aim to further promote Guangxi and the development opportunities of the “Two Countries and Twin Parks”, deepen cooperation between the both parties and impel the upgrading and development of “Two Countries and Twin Parks”.
On Tuesday, Guangxi economic and trade delegation successfully held the “Two Countries, Twin Parks” promotion and exchange meeting at Pavilion Hotel, Kuala Lumpur to celebrate the 10th anniversary of the Malaysia-China Kuantan Industrial Park (MCKIP) establishment.
The “Twin Park” is the first “Belt and Road initiative” between Malaysia and China and it is believed that with the support, cooperation and guidance of the leaders of both countries, the MCKIP will lead the relationship to a new stage.
“Under the joint leadership of the two countries’ leaders, the comprehensive strategic partnership between China and Malaysia has deepened, the high-quality construction of “Belt and Road Initiative” has been promoted in-depth, the cooperation between China and Malaysia ”Two Countries, Twin Parks” has gone through a ten-year course and has achieved remarkable results,” said the Department of Commerce of Guangxi Zhuang Autonomous Region deputy director-general Fu Jinming.
He added, “The cooperation between China and Malaysia has been a decade in the making and has achieved remarkable results. Looking forward to the new decade, we hope to take the implementation of RCEP and the start of the construction of China-Asean Free Trade Area 3.0 as opportunities to jointly promote the upgrading and development of China-Malaysia “Twin Parks”.
“The success of MCKIP is a testament to the fruitful and inclusive institutional cooperation between Malaysia and China at all levels,“ said the Malaysian Ministry of International Trade and Industry’s (Miti) Bilateral Economic and Trade Relations Division’s director of China Section, Unny Sankar.
He said the “Dual Park” is the first “Belt and Road Initiative” between Malaysia and China as announced by the leaders of both countries.
It is believed that under the support and guidance of the leaders of both countries, and with the cooperation of all levels, the Malaysia-China Kuantan Industrial Park will lead relationship between the two countries to a new stage.
The promotion and exchange meeting was jointly organised by the Department of Commerce of Guangxi Zhuang Autonomous Region, Miti, Guangxi Beibu Gulf International Port Group Limited, East Coast Economic Region Development Council of Malaysia, The Administrative Committee of China-Malaysia Qinzhou Industrial Park and Malaysia-China Kuantan Industrial Park Sdn Bhd. A total of more than 50 enterprises, financial institutions and business associations from Guangxi and Malaysia also participated in the event.
Source: The Sun Daily