China, Malaysia economic and trade cooperation reach new highs

China, Malaysia economic and trade cooperation reach new highs

26 Sep 2022

Economic and trade cooperation between China and Malaysia have hit new highs, with bilateral trade volume for the first eight months of this year reaching US$131.2 billion.

China’s Ambassador to Malaysia Ouyang Yujing said this constitute an increase of 21.2 per cent year-on-year. 

Speaking at the China’s 73rd National Day celebration here, Monday, he said that of the RM87.4 billion foreign direct investment (FDI) approved by Malaysia in the first half of this year, China’s share was amounted to RM48.6 billion or 55.6 per cent of the total FDI. 

The ambassador said with joint efforts from both sides, China and Malaysia relations have witnessed more and greater achievements at an accelerated speed, while high-level contacts have also broken new ground for further cooperation. 

Ouyang is optimistic that the trend will continue to develop in a healthy and stable manner.

He noted during Chinese State Councilor and Foreign Minister Wang Yi’s visit to Malaysia in July, both sides had agreed on working together towards building a China-Malaysia community with a shared future. 

“This is further enrichment to the China-Malaysia comprehensive strategic partnership. It will open up broader prospects for cooperation between the two countries,” he said. 

Senior Education Minister Datuk Dr Radzi Jidin represented the Malaysian government at the reception.

Also present were Speaker of Dewan Rakyat Tan Sri Azhar Azizan Harun, Prime Minister’s Special Envoy to China Datuk Seri Tiong King Sing and some 600 guests.

Ouyang said humanity exchanges between both countries have also seen new achievements. 

“Despite the negative impact of the pandemic, progress has been made in sending Malaysian students back to China to resume their studies, thanks to joint efforts of both sides. So far, more than 1000 Malaysian students have successfully returned to China,” he said. 

This year also marks the 48th anniversary of the establishment of China-Malaysia diplomatic relations, while next year will be the 10th anniversary of the establishment of the comprehensive strategic partnership between China and Malaysia. 

Source: Bernama