The Five-Year Programme for Economic and Trade Cooperation between China and Malaysia is expected to be signed soon during the inaugural visit of Chinese Premier Li Qiang to Malaysia, said Tengku Datuk Seri Zafrul Abdul Aziz.
Speaking at the launch of the Chery Malaysia Assembly Plant on Tuesday (June 18), the Investment, Trade, and Industry Minister said both countries have agreed to implement the second cycle of the programme that would further deepen linkages between industries in priority sectors such as high-level manufacturing and the digital economy.
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Speaking at the launch of the Chery Malaysia Assembly Plant on Tuesday (June 18), the Investment, Trade, and Industry Minister said both countries have agreed to implement the second cycle of the programme that would further deepen linkages between industries in priority sectors such as high-level manufacturing and the digital economy.
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NewsTranscript
00:00Ladies and gentlemen, with the presence of Mr Jin today, I would like to take this opportunity
00:17to highlight the lasting and deepening relationship between Malaysia and China.
00:24Our diplomatic relations have progressed steadily over the last five decades since
00:29the signing of the Joint Communique in Beijing on 31 May 1974.
00:37Malaysia's bold decision to be the first ASEAN member state to formalise diplomatic
00:43relations with China in 1974 created a new chapter in ASEAN-China relations.
00:52For 50 years, economic partnership has served as the main pillar of our diplomatic ties
00:59and will continue to become the bedrock of our future cooperation.
01:05Trade and investment relations between Malaysia and China have deepened, with China becoming
01:11Malaysia's largest trading partner since 2009.
01:17Malaysia's trade with China made up 17 per cent of Malaysia's global trade, valued at
01:24close to US$100 billion.
01:29Over the years, the range of products traded has diversified due to the growing interlinkages
01:35of our enterprises in the value chains.
01:39From 1980 to 2023, 497 manufacturing projects with participation from China, valued at
01:50US$19 billion, all have been implemented, creating more than 82,000 job opportunities
01:59for Malaysia.
02:01The Malaysia-China trade and investment linkages contribute significantly to Malaysia's economy
02:08and industrial reforms.
02:10These serve as an impetus to accelerate more participation of China in Malaysia's manufacturing sector.
02:19So ladies and gentlemen, last year we commemorated the 10th anniversary of the Malaysia-China
02:27Comprehensive Strategic Partnership.
02:31To mark this significant milestone, the Honourable Prime Minister of Malaysia, Dato' Sri Anwar
02:36Ibrahim, undertook his inaugural visit to China in April 2023, and subsequently attended
02:45the 20th China ASEAN Expo in September 2023.
02:52These visits rejuvenated business interests, resulting in accumulated investment commitments
02:58and potential exports.
03:00This demonstrates the strong interest and confidence of Chinese investors towards Malaysia.
03:07Furthermore, Malaysia and China have agreed to implement the second cycle of the Malaysia-China
03:15Five-Year Programme for Economic and Trade Cooperation.
03:19This initiative will further deepen linkages between our industries in priority sectors
03:25like high-level manufacturing, digital economy, robotics, entrepreneur development, innovation
03:33and start-up, as well as research and development in agriculture and primary industries.
03:40The Five-Year Programme for Economic and Trade Cooperation is expected to be signed soon
03:47during the inaugural visit of His Excellency Premier Lee Chiang to Malaysia, in conjunction
03:53with the 50th anniversary of diplomatic relations between Malaysia and China.
04:00In addition to Economic and Trade Cooperation, two Government-to-Government MOUs are expected
04:06to be signed during this visit, including MOU on strengthening investment cooperation
04:13in the digital economy, and MOU on promoting investment cooperation in green development.
04:22These MOUs will set forth the direction for companies from Malaysia and China on investment
04:28and business opportunities in various sectors.
04:32Malaysia has been selected to be the country of honour at the 21st China ASEAN Expo or
04:39CEXPO in 2024.
04:42Malaysia, for Malaysia, the 50th anniversary is not just a celebration of a milestone but
04:49a pivotal point to chart the future of our economic cooperation that focuses on national
04:55and regional development.
04:58Under the economic pillar, around 60 programmes will be held either in Malaysia or China,
05:05led by various government agencies, the business community and think tanks.
05:11Programmes organised by our Ministry include Invest Malaysia in September 2024 and the
05:17Malaysia-China Summit 2024 to be held in December 2024.
07:17I would like to welcome the Chinese government in this area and invite Malaysia to look at
07:24the potential of their joint investment in this sector.
07:29Thirdly, regarding the digital economy, he has mentioned IT, information technology,
07:36the use of new technology applications where Huawei has been in Malaysia for a long time
07:42and also other Chinese companies.
07:45As he said, the MOU will be signed tomorrow.
07:50God willing, there will be a framework to ensure that both countries and the Malaysian
07:57and Chinese companies can share their experience and knowledge about the sectors mentioned earlier.