KUALA LUMPUR, March 29 (Bernama) — Chinese industries are encouraged to leverage the Malaysia-China Summit 2024 (MCS 2024), which will be held here in December, for closer engagement with key Malaysian sectors, said Malaysian Ambassador to China Norman Muhamad.
Norman said the summit would offer abundant opportunities to forge and enhance trade and investment partnerships between the two countries.
“I was informed that the summit is the final programme to commemorate the 50th anniversary of Malaysia-China bilateral ties, among several programmes being held throughout the year in Malaysia,” he said in his speech at the MCS 2024 networking session and media engagement in Beijing on Wednesday.
Norman said the 50-year milestone in their bilateral ties reminded the two countries to look toward mutual prosperity beyond 50.
He said there are many reasons for Chinese businesses and investors to prioritise enhanced trade collaboration with Malaysia especially with the country’s strong and comprehensive foreign economic policy framework.
“(For example), Malaysia, as the world’s sixth-largest semiconductor manufacturer, presents substantial opportunities for collaboration with China. Opportunities span from research and development to manufacturing and supply chain management.
“Harnessing Malaysia’s semiconductor expertise alongside China’s extensive market and technological strengths can foster synergies, boosting global innovation and competitiveness,” he said.
Moreover, Norman said Malaysia’s position as a gateway to the ASEAN market, which is one of the world’s fastest-growing economic regions, could also provide China access to a market of over 650 million people, providing opportunities for expansion and growth.
He said that strengthening trade ties with Malaysia offers China an opportunity to diversify its trade partners, and this diversification strategy can help mitigate global trade uncertainty.
In addition, he noted that Malaysia’s strategic location and its position as an important Belt and Road Initiative participant present more opportunities for collaboration, especially in infrastructure development projects that can enhance connectivity and facilitate trade between the two countries and beyond.
“China and Malaysia also possess complementary economies, with China’s manufacturing strength complementing Malaysia’s prowess in sectors such as electronics, palm oil, and tourism.
“Collaboration in technology and innovation can bolster China’s efforts to advance its technological capabilities.
“Malaysia’s growing tech ecosystem, its skilled workforce and supportive government policies offer opportunities for joint research, development and investment in emerging technologies,” Norman said.
— BERNAMA
