MALAYSIA SECURES POTENTIAL EXPORTS TO CHINA WORTH RM3.2 BLN – TENGKU ZAFRUL

BEIJING, Nov 7 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim’s working visit to China has generated potential exports worth RM3.2 billion, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz.

He said this was achieved during the meeting with 24 companies from various sectors, including semiconductor, aerospace, automotive and medical devices, which participated in the roundtable session organised in conjunction with the visit.

“There were also companies in the trade sector participating in the roundtable session, including those involved in chemical products and agricultural produce,” he told a press conference at the end of the Prime Minister’s visit to China today.

Malaysia has also secured some investments from China, Tengku Zafrul said, adding that the amount will be announced in the near future.

“We do not have a figure that can be announced (for now). A lot of the projects are in the final stages and there are those which are still in discussion.

“Generally, it points to a higher growth for this year,” he said.

Earlier, Anwar, who is Finance Minister as well, also held a business meeting with China International Capital Corp (CICC), a state-owned multinational investment management and financial services company.

Anwar’s four-day working visit to China, which kicked off on Nov 4, marked his third as Prime Minister. His maiden visit took place in March 2023, followed by a second visit in September of the same year.

Accompanying him during the latest visit were Foreign Minister Datuk Seri Mohamad Hasan, Tengku Zafrul, and Human Resources Minister Steven Sim Chee Keong.

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

In 2023, total trade with China was valued at RM450.84 billion (US$98.80 billion), representing 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 this year, a total of 15 manufacturing projects were implemented with investments totalling RM1.2 billion (US$252.5 million).

-- BERNAMA