Malaysia to deepen biz ties with China

As this year’s guest of honor country at the 7th China International Import Expo, Malaysia is making the most of the spotlight to showcase its export offerings and develop stronger economic cooperation with China, said Tengku Datuk Seri Zafrul Abdul Aziz, Malaysia’s minister of investment, trade and industry.

Zafrul expressed optimism that the long-standing Malaysia-China partnership will scale new heights at CIIE and beyond, in an exclusive interview with China Daily.

“We have always been a strong supporter of the CIIE and are grateful to be the guest of honor country this year,” Zafrul said. “Our Prime Minister delivered the opening address for the CIIE and over 60 Malaysian companies are involved showcasing products ranging from food and beverages to high-tech solutions like aerospace.”

For Malaysia, CIIE represents a pivotal platform to spotlight its export potential and appetite for deeper investment ties with China, its largest trading partner for 15 consecutive years, according to the minister.

The diverse Malaysian contingent, ranging from petrochemicals, food, technology firms and more, underscores the nation’s economic dynamism and commitment to maximizing access to Chinese consumers and businesses, he said.

CIIE also enables Malaysian firms to “understand the market by meeting players from other countries”, Zafrul explained, lauding it for “giving a platform for many countries and their companies to be more involved in the market and having access to China”.

Highlighting Malaysia’s participation for the 7th consecutive year, the minister stressed that marketing and trading “cannot be just one-off. It’s important to be consistent”.

Among the Malaysian exhibitors are firms maintaining a decadeslong presence in China alongside newcomers eager to gain a foothold. “Some Malaysian companies have been in China for the last 20 years, while some are new,” Zafrul noted. “It’s good to have that mixture of new and old companies.”

“The past 50 years have consistently shown stronger and stronger collaboration between the two countries,” Zafrul stated. “China has been one of our largest investors, especially in the last 10 to 15 years. We have many Chinese companies who are investing in renewable energy, electric vehicles, data centers and the digital economy in Malaysia.”

As a flagship Malaysian project under the Belt and Road Initiative, the East Coast Rail Link connecting the east and west coasts of Peninsular Malaysia is blazing ahead to provide vital rail connectivity. “It’s progressing ahead of schedule and will deliver very positive economic spillovers once completed,” the minister said.

Looking ahead, as Malaysia assumes the annually rotating ASEAN chair in 2025, its economic aims include finalizing an upgraded ASEAN-China Free Trade Agreement to “further deepen trade collaboration” between ASEAN and China.

Beyond economic components, people-to-people bonds are flourishing amid Malaysia’s 50th anniversary celebrations of diplomatic ties with China. Tourism arrivals from China to Malaysia skyrocketed 160 percent year-on-year in the first nine months of this year, according to the minister. – China Daily/ANN