Malaysia, China set trade target of $160b by 2017

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China-Malaysia
Malaysia’s Prime Minister Najib Razak (right) and China’s President Xi Jinping

Malaysia and China have set a bilateral trade target of $160 billion by 2017, as agreed between Malaysia’s Prime Minister Najib Razak and China’s President Xi Jinping during the latter’s visit in Malaysia on October 4.

The two leaders also discussed a five-year economic and trade programme and agreed to elevate the current cooperation between both countries into a comprehensive strategic partnership.

In 2012, the bilateral trade volume between the two countries reached $94.8 billion.This makes Malaysia China’s top trading partner among the ASEAN countries for the fifth consecutive year.Najib said Xi expressed keen interest in seeing Chinese companies participate in Malaysia’s high-speed rail project, the China-Malaysia Qinzhou Industrial Park and the Malaysia-China Kuantan Industrial Park.

“We also would like to see more trade between the countries settled in the renminbi and ringgit,” he said, adding that the information on this should be disseminated to the private sectors of both countries.

Najib said Xi indicated some new areas of cooperation between the two countries, which included information and communication technology, biotechnology, science and space technology. He also expressed hoped that the project to develop the Malaysian campus of the Xiamen University, its first outside China, would become a reality in near future.

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Reading Time: 1 minute

Malaysia’s Prime Minister Najib Razak (right) and China’s President Xi Jinping

Malaysia and China have set a bilateral trade target of $160 billion by 2017, as agreed between Malaysia’s Prime Minister Najib Razak and China’s President Xi Jinping during the latter’s visit in Malaysia on October 4.

Reading Time: 1 minute

China-Malaysia
Malaysia’s Prime Minister Najib Razak (right) and China’s President Xi Jinping

Malaysia and China have set a bilateral trade target of $160 billion by 2017, as agreed between Malaysia’s Prime Minister Najib Razak and China’s President Xi Jinping during the latter’s visit in Malaysia on October 4.

The two leaders also discussed a five-year economic and trade programme and agreed to elevate the current cooperation between both countries into a comprehensive strategic partnership.

In 2012, the bilateral trade volume between the two countries reached $94.8 billion.This makes Malaysia China’s top trading partner among the ASEAN countries for the fifth consecutive year.Najib said Xi expressed keen interest in seeing Chinese companies participate in Malaysia’s high-speed rail project, the China-Malaysia Qinzhou Industrial Park and the Malaysia-China Kuantan Industrial Park.

“We also would like to see more trade between the countries settled in the renminbi and ringgit,” he said, adding that the information on this should be disseminated to the private sectors of both countries.

Najib said Xi indicated some new areas of cooperation between the two countries, which included information and communication technology, biotechnology, science and space technology. He also expressed hoped that the project to develop the Malaysian campus of the Xiamen University, its first outside China, would become a reality in near future.

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