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China-Malaysia trade, investment set to scale new heights, says ambassador

China-Malaysia trade, investment set to scale new heights, says ambassador

01 Nov 2021

China is optimistic its trade and investment with Malaysia will scale new heights in the post-pandemic era, said Chinese Ambassador to Malaysia Ouyang Yujing.

In light of the 12th Malaysia Plan, China is willing to work together with Malaysia to strengthen trade and investment cooperation, tap into the potential for cooperation in emerging fields, and promote the economic integration of China-Malaysia towards common developments for both countries, he said.

Potential areas of cooperation include the digital economy, electrical and electronics industry, high-tech and cyber security, he said.

“As an important node of the 21st Century Maritime Silk Road, Malaysia enjoys a strategic location and a sound business environment.

“We are willing to share experience in opening up and development with Malaysia, continue to deepen practical cooperation and strategic synergising and cooperation planning, so as to promote the economic recovery and social development in the post-pandemic era.

“We are supposed to turn the crisis into an opportunity, which will bring our cooperation to a higher level and yield valuable and remarkable results,” he said at the launch of the Cainiao Aeropolis electronic World Trade Platform (eWTP) Hub here today.

Ouyang said the bilateral trade volume between China and Malaysia and China’s non-financial investment to Malaysia increased against the odds by 43.9 per cent and 76.3 per cent, respectively, in the first half of this year.

China has also remained Malaysia’s largest trading partner for 12 consecutive years, as well as the largest foreign direct investment source in Malaysia’s manufacturing sector for five consecutive years, he said.

“Our two countries have always been focusing on deepening collaborations encompassing various areas including industrial parks, infrastructure construction, equipment manufacturing, ICT (information and communications technology) and digital economy.

“The signing of the Regional Comprehensive Economic Partnership injected new impetus into the economic development of the Asia-Pacific region, which will also bear new fields, new models and new business formats for our pragmatic cooperation.

“It will also play a prominent role in promoting economic recovery and long-term prosperity,” he said.

Ouyang said China and Malaysia would further enhance cooperation under the Belt and Road Initiative framework, deepen synergy between development strategies, foster new growth drivers and create new highlights in cooperation.

Both countries would also leverage the advantages for further upgrading their bilateral economic cooperation, he added.

China and Malaysia have had bilateral relations over the past 47 years, with deepening mutual political trust, steady progress in economic cooperation, as well as increasingly close people-to-people exchanges and friendships.

Source: Bernama

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