PM Anwar's Working Visit To China To Focus On Boosting Economy - Ambassador

From Massita Ahmad

SHANGHAI, Nov 4 (Bernama) -- The objective of Prime Minister Datuk Seri Anwar Ibrahim’s four-day working visit to China starting Nov 4 is to meet potential investors to boost the country's economy.

“The focus this time is the economy. A busy schedule awaits the Prime Minister, including meetings with companies that have the potential to invest in Malaysia,” Malaysian Ambassador to China Datuk Norman Muhamad said in a press conference in conjunction with the Prime Minister's visit to China.

The Prime Minister will hold a meeting with China International Capital Corp (CICC), a partially state-owned Chinese multinational investment management and financial services company, and also attend a high-level meeting with Huawei’s senior executive.

Among other things, the Prime Minister will also meet nine companies and hold a round table session with 23 'captains of industry'.

Anwar is expected to arrive in Shanghai tonight, the first stop before Beijing.

He will be accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Human Resources Minister Steven Sim Chee Keong.

The Prime Minister's working visit to China is at the invitation of his counterpart Li Qiang to attend the 7th China International Import Expo (7th CIIE) in Shanghai.

According to Norman, in Shanghai the Prime Minister will launch the Malaysian Pavilion as well as the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) Pavilion which is participating in the expo.

So far, he said a total of 68 Malaysian companies will participate in CIIE where 17 companies will be at the Malaysian Pavilion, 18 companies will be under ACCCIM and the rest will be in their respective pavilions.

CIIE is an initiative of the China government that provides a platform for countries involved in the Belt and Road Initiative to promote and export goods and services to the country.

Anwar will also deliver the keynote speech at the CIIE later.

Touching on the volume of trade between the two countries, Norman said there was an increase in the volume of trade with China amid the decline in world trade.

“And this is all the result of good relations between Malaysia and China in terms of diplomacy and the highest leadership,” he said.

With a series of visits such as the State Visit of His Majesty Sultan Ibrahim, King of Malaysia and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi recently showed the closeness between Malaysia and China.

"During the visits, the leaders were able to refine and also reach a consensus in the direction of bilateral relations. This is very helpful in increasing trade between Malaysia and China," he said.

Norman is confident that China will continue to be Malaysia's largest trading partner.

According to him, efforts to attract investments were made earlier by Khazanah Nasional and Permodalan Negeri Selangor.

“They have met all these firms to attract investments. China is very advanced in the field of EV (electric vehicle) and RE (renewal energy).

“These are all industries that will be developed in Malaysia. We need this kind of investment,” he said.

He added that the embassy will boost potential in the field of robotics in Malaysia.

He added that Anwar and Li will also witness the exchange of documents between Malaysia and China regarding the Belt and Road Initiative and also the memorandum of understanding (MoU) of cooperation between the Malaysian National News Agency (Bernama) and China Media Group.

For 15 consecutive years since 2009, China has been Malaysia’s largest trading partner.

In 2023, total trade with China was valued at RM450.84 billion (US$98.80 billion), contributing to 17.1 per cent of Malaysia’s global trade.

As of September 2024, the recorded total trade was RM355.15 billion (US$76.72 billion).

In the first half of 2024, a total of 15 manufacturing projects were implemented with investment totalling RM1.2 billion (US$252.5 million).

This trip marks the third visit to China for Anwar, as the Prime Minister made his maiden visit to the country in March 2023, followed by September of the same year.

However, this is his first visit to Shanghai.

The Prime Minister will leave for the next stop in Beijing on Nov 6.

-- BERNAMA