Malaysia and China aspire to leverage RCEP to boost trade

KUALA LUMPUR: Malaysia and China aspire to leverage the Regional Comprehensive Economic Partnership (RCEP) agreement to boost trade activities, Deputy Minister of International Trade and Industry Datuk Lim Ban Hong has said.

In a statement released yesterday, he said Malaysia encourages Chinese companies to use Malaysia as a gateway to Asean, while Malaysian companies can use Guangxi to expand into the Chinese market.

Lim said Malaysia also aspires to strengthen trade and investment ties between Malaysia China Kuantan Industrial Park (MCKIP) and China Malaysia Qinzhou Industrial Park (CMQIP) through industrial collaboration and replicate the achievements of the model.” Two countries, twin parks”. Cooperation.

“Malaysia and the Guangxi Zhuang Autonomous Region are planning to upgrade the industrial park collaboration by extending the model to various other industrial parks in Malaysia,” he said after hosting a virtual meeting with the vice-president yesterday. president of Guangxi Zhuang Autonomous Region, Cai Lixin.

Along with the 10th anniversary of CMQIP, Malaysia will co-host the “Virtual Malaysia-China Guangxi Investment Forum 2022” together with Guangxi Zhuang Autonomous Region, tentatively in April 2022.

Besides attracting quality foreign direct investment to Malaysia, Lim also urged private companies and Malaysian government-related enterprises to explore CMQIP and development opportunities in the Guangxi Zhuang Autonomous Region.

Meanwhile, he said the construction of phases two and three of MCKIP is progressing well, where phase three is expected to be integrated with Kuantan Port and the East Coast Railway Line, transforming the region into a vibrant port city of Kuantan.

Over the past decade, MCKIP has recorded cumulative investment worth RM30.1 billion for 19 projects, creating approximately 17,000 employment opportunities. – Bernard.

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