SHAH ALAM – The five-year programme for economic and trade cooperation between China and Malaysia is expected to be signed during Chinese Premier Li Qiang’s inaugural visit to Malaysia, said Investment, Trade and Industry (Miti) Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
He said that both countries have agreed to implement the second cycle of the Malaysia-China five-year economic and trade cooperation programme, which will deepen linkages between industries in priority sectors such as high-level manufacturing and the digital economy.
Tengku Zafrul also said that the programme would strengthen collaborations in robotics, entrepreneur development, innovation and startup, as well as agricultural and primary industry research and development.
In addition to the economic and trade cooperation, he said two government-to-government memoranda of understanding (MoUs) were expected to be signed during the visit, including a MoU on strengthening investment cooperation in the digital economy as well as a MoU on promoting investment cooperation in green development.
“These MoUs will set forth the direction for companies from Malaysia and China on investment and business opportunities in various sectors,” he said during the launch of the Chery Malaysia assembly plant here today.
Li will embark on a three-day official visit to Malaysia starting today, marking his first visit to the country as premier, in conjunction with the 50th anniversary of diplomatic relations between Malaysia and China.
“For Malaysia, the 50th anniversary is not just a celebration of a milestone but a pivotal point to chart the future of our economic cooperation that focuses on national and regional development,” he said.
Under the economic pillar, he pointed out that around 60 programmes will be held either in Malaysia or China, led by various government agencies, the business community and think tanks.
Programmes organised by Miti include Invest Malaysia in September 2024 and the Malaysia-China Summit 2024 to be held this December.
He also said trade and investment relations between both countries have deepened since 2009 and Malaysia’s trade with China made up 17.1% of Malaysia’s global trade, valued at US$98.80 billion or RM 450.84 billion.
From 1980 to 2023, 497 manufacturing projects with participation from China, valued at US$18.5 billion (RM74.2 billion), have been implemented, creating more than 82,000 job opportunities for Malaysians, he said.
On Chery Malaysia, he said the Chinese automobile manufacturer pledged an investment of RM1 billion last year, which supports Malaysia’s New Industrial Master Plan 2030 and underscores Chery’s confidence in the country’s policies and fosters growth within the automotive sector. – June 18, 2024