Malaysia seeking closer economic ties with China: official

Date : 2013-07-29  | From : Xinhua

Malaysia is seeking closer economic ties with China and attracting more investment from the country, Malaysian International Trade Minister Mustapa Mohamed said Friday.

Chinese companies are becoming more and more interested in doing business and investment in Malaysia recently, Mustapa said.

Speaking at the briefing of the Malaysia-China Entrepreneur Conference to be held in December, Mustapa said bilateral trade between China and Malaysia recorded a 8 percent increase in 2012.

Despite Malaysia's setback in external trade this year, bilateral trade between China and Malaysia still recorded a decent 3.8 percent increase in the first six months of 2013.

Mustapa added that he wants to expand Malaysia's export to China from commodities like palm oils to manufactured goods.

"It is our policy to further increase ties with China," he said.

China is Malaysia's biggest trading partner while Malaysia is China's biggest trading partner among the 10 ASEAN members.

Meanwhile, Mustapa said he is working to attract more investment from China as the investment "is lagging behind" compared to the buoyant trade between the two countries.

China and Malaysia have jointly set up the Guangxi Qinzhou Industrial Park and Malaysia's Kuantan Industrial Park in a bid to further boost bilateral economic ties. Xu yanfeng delivered a speech on the stage.