KUALA LUMPUR: Bilateral trade between Malaysia and China increased by 34.5 per cent to US$178.6 billion in 2021, compared with the previous year.
MCA president Datuk Seri Dr Wee Ka Siong said China has been Malaysia's largest trading partner for 13 consecutive years, and Malaysia was China's second largest trading partner in Asean.
"Malaysia remains an attractive investment destination globally and regionally, especially after the Regional Comprehensive Economic Partnership (RCEP) came into effect.
"Due to the country's strategic location in Asean and its neighbouring countries, Malaysia is the centre for companies to expand the RCEP market," he said at the 13th Term National Council, the 7th Term Young Entrepreneurs Committee and the 2nd Term Women Entrepreneurs Committee inauguration ceremony organised by the Malaysia-China Chamber of Commerce (MCCC) at Wisma Huazong today.
This, said Wee, was supported by the latest first-half investment data released by the Malaysian Investment Development Authority, where foreign direct investments reached RM87.4 billion or 70.9 per cent of the total investment, while investment from China was valued at RM48.6 billion or 55.61 per cent.
Present at the event was Chinese ambassador to Malaysia Ouyang Yujing.
Wee said that as the chamber that promoted economic and trade development and investment cooperation between the countries, MCCC has always been committed to playing the role of a bridge between the government and the business community all these years.
"In addition, MCCC has built a platform for Malaysia-China enterprises to carry out cooperation, effectively promoting the development of Malaysia-China economic and trade relations, including letting entrepreneurs who do not know the Chinese language to better understand China, as well as organising delegations to participate in exhibitions in China, for instance the Canton Fair.
"This way we can help more Malaysian companies to enter the Chinese market," he said.
Wee said it was commendable that even during the Covid-19 pandemic, MCCC never stopped holding activities, albeit online, including nearly 100 lectures and a high-profile annual brand event called the Malaysia-China Entrepreneurs Conference (MCEC).
"In 2020, the 10th MCEC, which was held online and offline, for the first time attracted more than 20,000 participants. Last year, the 2nd Youth Entrepreneurs Conference was also held online and offline. The Entrepreneur Forum reached a new peak recording more than 230,000 viewers, local and abroad.
"I look forward to MCCC, under the framework of the Belt and Road Initiative and RCEP, giving full advantage and to cooperate with the digital economy master plan promoted by the government under the 12th Malaysia Plan," he said, adding that he expected Malaysia to receive more business opportunities and high-quality investment projects.
#KW: Bilateral trade, Malaysia, China, MCA President Datuk Seri Dr Wee Ka Siong, largest trading partner, Chinese Ambassador to Malaysia Ouyang Yujing, Malaysia-China Chamber of Commerce, MCCC, investment data, Malaysian Investment Development Authority