SHANGHAI: As Malaysia and China celebrate the 50th anniversary of their diplomatic ties, China is expected to remain Malaysia's largest trading partner for years to come.
Malaysia's Ambassador to China Datuk Norman Muhammad said that trade between the two nations had increased, continuing a trend of 15 consecutive years of mutual partnership.
"Despite a general decline in global trade, our trade with China has grown, thanks to strong diplomatic relations and close ties between our leaders," he said during a press conference with Malaysian media here today.
Norman said that high-level visits, such as those from His Majesty Sultan Ibrahim, King of Malaysia, and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, reflected the mutual agreements and direction of the bilateral relationship.
"These visits reinforce our close relationship and further boost trade," he added.
He also said that there had been ongoing efforts to attract Chinese investments, spearheaded by government-linked investment companies like Khazanah Nasional Bhd and Permodalan Nasional Bhd.
"China leads in electric vehicles and renewable energy technology — industries we aim to develop in Malaysia," he added.
Norman anticipates that Prime Minister Datuk Seri Anwar Ibrahim will discuss potential investments from Chinese companies during his upcoming working visit to China from Nov 4 to 7.
Since 2009, China has been Malaysia's largest trading partner, with total trade reaching RM450.84 billion (USD 98.80 billion) last year, accounting for 17.1 per cent of Malaysia's global trade.
Additionally, China is Malaysia's fifth-largest foreign investor, with total inflows of RM14.5 billion (USD 3.3 billion).