KUALA LUMPUR, Sept 17 (NNN-Bernama) — The two-way trade between Malaysia and China is expected\u00a0to hit\u00a0a new record high this year with the implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement, said Malaysia\u2019s Deputy Minister of International\u00a0Trade and Industry Lim Ban Hong.<\/p>\n\n\n\n
Lim said the trade is expected to grow despite the pandemic’s effects and the global uncertainty caused by geopolitical tensions.<\/p>\n\n\n\n
\u201cThe latest Chinese trade statistics revealed that Malaysia-China overall trade in the first eight months of 2022 reached US$131.21 billion, growing 21.1 per cent from the corresponding period last year,\u201d he said in his opening address at the 19th China-ASEAN Business and Investment Summit (Cabis) Roundtable Dialogue between Malaysia and chief executive officers from China. <\/p>\n\n\n\n
In 2021 alone, a total of 43 manufacturing projects were approved from China worth US$3.98 billion, generating nearly 14,000 employment opportunities in Malaysia, according to Lim.<\/p>\n\n\n\n
\u201cMalaysia is welcoming more business collaboration from China in new and complex growth areas, this will foster innovation and strengthen supply chain linkages between Malaysian and Chinese companies.<\/p>\n\n\n\n
\u201cThe resumption of travel links between Malaysia and China is a significant step in the right direction and Malaysia looks forward to receiving more business travellers from China to Malaysia,\u201d he added.<\/p>\n\n\n\n
Lim noted that Malaysia was among the early supporters of China\u2019s Belt and Road Initiative (BRI) and remains committed to deepening economic ties with all BRI participating countries.<\/p>\n\n\n\n
Malaysia is committed to facilitating quality investments from China and would continuously be enhancing the country\u2019s unique value propositions to ensure that Malaysia remains a preferred investment destination, he said.<\/p>\n\n\n\n
\u201cThese unique propositions span across a wide array of elements including incentives, facilitation, talent, infrastructure, as well as legal, regulatory, procedural and institutional mechanisms,\u201d he added.<\/p>\n\n\n\n
On ASEAN-China relations, Lim said that ASEAN and China need to intensify efforts on the trade and investment fronts.<\/p>\n\n\n\n
\u201cWe must continue to cooperate and support rules-based and multilateral economic agreements to help the region (recover from the) pandemic,\u201d he said, adding that both parties have to strive to keep the supply chain connectivity uninterrupted and facilitate the movement of essential goods and services, as well as people.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Sept 17 (NNN-Bernama) — The two-way trade between Malaysia and China is expected\u00a0to hit\u00a0a new record high this year with the implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement, said Malaysia\u2019s Deputy Minister of International\u00a0Trade and Industry Lim Ban Hong. Lim said the trade is expected to grow despite the pandemic’s effects and […]<\/p>\n","protected":false},"author":30,"featured_media":191693,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191692"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=191692"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191692\/revisions"}],"predecessor-version":[{"id":191694,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191692\/revisions\/191694"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/191693"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=191692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=191692"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=191692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}