Malaysia-China trade to continue growing double-digit this year

JOHOR BARU: The bilateral trade between Malaysia and China is expected to maintain a double-digit growth this year, boosted by active promotion and trade expo participations for both countries, said Malaysia External Trade Development Corporation (Matrade).

Its Director for Business Services and Building Material Section, Franchise Unit/China, Trade and Services Promotion Division, Ong Yew Chee, said for the past 10 years, the bilateral trade between the two countries has been healthy with 10 per cent average growth.

"Last year, Malaysia's total trade with China amounted to RM202.23 billion, an increase of 12.5 per cent compared to 2012," he told reporters in conjunction with the 11th China-Asean Expo (CAEXPO 2014) road promotion here today.

He said this was further reflected with China being the country's largest trading partner among other countries since 2009.

Among Matrade's promotional activities in China this year include the 115th China Import & Export Fair (Canton Fair) Phase 3 in early May, Malaysia Services Exhibition Beijing (May 28-June 1) and the 11th Shanghai International Franchise Exhibition (SIFE) in September.

On CAEXPO 2014, Ong said Matrade was encouraging more players in the economic corridors to participate by displaying their uniqueness to potential investors.

"Iskandar Malaysia for example is a good product that can be highlighted especially with their attractive privileges for foreign investors. This, coupled with China's recent policy in encouraging more Chinese companies to invest outside their country," he said.

The expo, which expects the participation of about 130 to 140 Malaysian companies, has so far attracted about 50 companies.

The next road promotion for CAEXPO will be in Kuching, Sarawak (tomorrow) and Kota Kinabalu, Sabah (April 17).

Among the sectors to be promoted at the expo include health and wellness, green and technology and lifestyle products.