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Strengthening cooperation between Malaysia, China

Strengthening cooperation between Malaysia, China

08 Mar 2024

The Federation of Malaysian Manufacturers (FMM) seeks to improve China-Malaysia cooperation.

A Memorandum of Understanding (MOU) between FMM and the RCEP Industry Cooperation Committee (RICC) has been signed.

FMM said in a statement that its goal is to create a framework for cooperation between the federation and RICC in order to assist China’s and Malaysia’s economic development.

By utilising the Regional Comprehensive Economic Partnership (RCEP), it also aims to develop mutual understanding and cooperation between the corporate communities of both parties.

“China, being Malaysia’s largest trading partner for 15 consecutive years since 2009, this MOU will serve as a platform for businesses in Malaysia and China to further elevate trade and investment cooperation among businesses by tapping on RCEP, which is the world’s largest free trade area in terms of combined gross domestic product (GDP) and market size, accounting for almost one-third of the world’s population,” said FMM’s president, Tan Sri Soh Thian Lai.

Xu Ningning, the chairman of RICC, said he is confident that this MOU will provide the pathway for businesses in both countries to leverage RCEP for their market opening and potential cooperation in new areas such as artificial intelligence, new energy, and other fields.

Source: NST