Malaysia-China trade volume exceeds RM930b in 2022, says envoy - MIDA | Malaysian Investment Development Authority
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Malaysia-China trade volume exceeds RM930b in 2022, says envoy

Malaysia-China trade volume exceeds RM930b in 2022, says envoy

20 Aug 2023

The trade volume between China and Malaysia exceeded US$200 billion (RM930 billion) last year, said China’s Ambassador to Malaysia Ouyang Yujing.

He noted that during his two and a half years tenure in Malaysia, the trade volume between the two countries had been increasing since the end of 2020.

“In December 2020, the trade volume between China and Malaysia was US$131.1 billion and by 2021, it hit US$176.8 billion.

“Last year, the trade volume exceeded US$200 billion — US$203.6 billion, to be exact,” he said during a welcoming luncheon hosted by the Associated Chinese Chamber of Commerce and Industry of Sarawak (ACCCIS) at a leading hotel here today.

Deputy Premier Dato Sri Dr Sim Kui Hian was the special guest at the luncheon, while ACCCIS president Datuk Tan Jit Kee was among those present.

Ouyang further pointed out that China’s investment in Malaysia accounted for 33.9 per cent of the total investment of US$12.5 billion last year.

“In the first quarter of this year, China invested US$970 million in Malaysia, and Malaysia’s Prime Minister (Datuk Seri) Anwar Anwar’s visit to China had attracted an investment of RM170 billion,” he said.

He hoped that people from all walks of life in Sarawak will continue to play the role of a bridge to promote the friendship between China and Sarawak, enhance understanding among the people and continue engaging efforts to bring the relationship between China and Malaysia to a new level.

According to Ouyang, his visit to Sarawak is to conduct an in-depth study and research into the state’s extensive market.

He said his delegation, comprising 10 members, are aware of Sarawak’s unique feature of being multi-racial and multi-cultural.

“Sarawak has rich natural resources and great potential for development. We need to learn more about what kind of collaboration we can have with Sarawak,” he said.

He said the information on various potential development projects in Sarawak he had gathered would be shared with members of China’s Chamber of Commerce and Industry.

He said this is to enable China’s businessmen to grab the opportunity to invest in Sarawak and promote investments between China and Sarawak.

Presently, Ouyang said nearly 30 Chinese companies are investing and have ongoing projects in Sarawak.

He opined that China and Sarawak will have great potential in the future, and both parties must explore more opportunities.

“For example, the relocation of the capital of Indonesia will bring endless business opportunities to Sarawak, be it infrastructure development projects such as building roads and railways or other services.

“Both the Chinese government and Chinese enterprises are willing to further collaborate with Sarawak to seize the opportunity of development, and better assist the development of Sarawak,” he said.

Ouyang said it was widely known that China had made certain achievements in the high-tech sector.

He added that Chinese enterprises in the high-tech field can be encouraged to invest in Sarawak.

Source: Borneo Post