Malaysia-China trade on upward trend

Date:

SIBU: Bilateral trade between Malaysia and China continues to buck the trend despite the impacts of the COVID-19 pandemic.

“The bilateral trade volume between Malaysia and China reached US$176.8 billion, a year-on-year increase of 34.5 per cent,” said the Prime Minister ‘s Special Envoy to China, Datuk Seri Tiong King Sing.

“Malaysia ‘s import and export volume with China was US$78.77 billion and US$98.06 billion, an increase of 39.9 per cent and 30.4 per cent respectively”, he stated at the Malaysia-China Chamber of Commerce (MCCC) Sarawak Branch’s installation ceremony of the 5th Council (2022-2025) cum inaugural installation of the Women’s Entrepreneurs Committee in conjunction with the 48th Anniversary Celebration of the Establishment of Malaysia-China Diplomatic Relations.

The event which took place at a hotel here on last night witnessed Wong Tin Kwong being installed as the new president of MCCC Sarawak branch and Jamie Tiew Yen Houng as the branch’s chairperson for the Women’s Entrepreneurs Committee.

Tiong, who is Dudong assemblyman and Bintulu MP, said even in the face of the COVID-19 pandemic, both countries still embodied the spirit of mutual cooperation to weather the unprecedented challenges from that worldwide outbreak.

He stated that 48 years ago, Malaysia made history as the first ASEAN country to re-establish diplomatic relations with the People’s Republic of China.

With shared histories, he said Malaysia and China have weathered many ups and downs together and nurtured strong ties and achievements.

Ting (third left) hands over a memento to Tiong.

The MCCC Sarawak Branch has served as a bridge and platform for industry and commerce between Sarawak and China, he said, adding they are committed to strengthening the connection between Sarawak’s private sector and business groups, providing the latest information on Malaysia-China business exchanges for local enterprises and businesses, and providing a broader perspective for development proposals.

Moreover, he stated that they have been instrumental in helping to build more high-quality platforms for cooperation and exchanges between Malaysian and Chinese business enterprises.

“With the development of the times, ASEAN countries have gone from strength to strength. Our neighbouring countries have been active and inclusive in attracting foreign investment because they know that FDI can directly catalyse their local economies and bring more job opportunities with a firm foothold in the ever-changing international market.

“Look at Sarawak, a land of great and talented people with natural advantages better than those of many countries. It is imperative that we must be even more active to take advantage of Sarawak’s gifts to attract investments. Doing so diligently will reap dividends for every corner of Sarawak and all Sarawakians,” he said.

On the new board of directors and the inaugural setting up of the women’s committee, he said  they have now taken office to shoulder the important task of strengthening bilateral economic and trade exchanges between Malaysia and China under the banner of the MCCC, Sarawak Branch.

“In your work to deepen bilateral exchanges with China, let us work together to leverage Sarawak’s close connections to form greater investment and economic cooperation for Sarawak and push our relationships to a higher level.

“I believe the new council members will undoubtedly bring the Sarawak branch’s bilateral economic links to greater heights.

“I sincerely hope that the MCCC will continue to be a high-quality platform to facilitate business exchanges between Malaysia and China. Through more exchanges and dialogues, let us find more channels to deepen the bilateral ties between Malaysia and China and create win-win opportunities for all parties,” Tiong added.

As a gesture of appreciation and recognition of the MCCC Sarawak Branch’s contributions over the years, he announced a RM60,000 allocation to the Chamber to aid their activities for the business communities.

Among those present were Sibu Division Chinese paramount leader, Temenggong Datuk Vincent Lau, Pemanca Datuk Jason Tai Hee, honorary president of MCCC Sarawak Branch, Datuk Lau Nai Hoh and the event’s organising committee chairman, Ting Hua Sing.

Wong (seated left) signs MCCC Sarawak branch’s presidentship document while witnessed by Tiong (seated second left) and others.

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