THE Malaysia External Trade Development Corp (Matrade) has signed a memorandum of understanding (MoU) with its Chinese counterparts to pave way for Malaysian small and medium enterprises (SMEs) to have better market access to China’s market.
The MoU, which was signed between Matrade, Industrial and Commercial Bank of China (Malaysia) Bhd (ICBC Malaysia) and Guangxi Qinzhou Trade Port Authority (GQFTA), will help Matrade in identifying the SMEs and negotiate the products to be exported to China.
Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan witnessed the exchange of documents between the parties.
“This is one of the collaborations of the China-Asean partnership and a strategy by the National Export Council.
“Under this strategy, there is a need for Matrade to work with China state-owned enterprises such as ICBC Malaysia and GQFTA to help SMEs export their products to China,” said Ong after the official opening of the Malaysian Pavilion at the 13th China-Asean Expo (Caexpo) in Nanning, China.
Caexpo is a trade fair promoting cooperation between businesses from the countries involved.
He said GQFTA would assist in the logistics and Customs clearance while Matrade would facilitate the export of products by SMEs.
ICBC Bank will be a coordinator in financing and provide an e-commerce platform called ICBC Online Mall that has 30 million active subscribers.
Chinese Vice-Premier Zhang Gaoli delivered a speech after the opening ceremony of the 13th Caexpo and the 13th China-Asean business and investment summit.
He said cooperation between China and Asean over the past 25 years had grown significantly, leading to the establishment of comprehensive strategic relations.
China has vowed to promote free trade in the Asean region.
Trade between China and the bloc reached US$472.16 billion (RM1.9 trillion) last year, a 58 per cent increase from 1991.
Co-sponsored by China and the 10 Asean countries, the expo that was initiated in 2004 has been serving as an important platform to promote trade and stronger ties between China and Asean members.
With the theme “Building the 21st Century Maritime Silk Road, Forging an Even-Closer China-Asean Community of Common Destiny”, the four-day expo will advance mutual investments between China and Asean countries in the key areas of industrial capacity cooperation and equipment manufacturing.
Zhang also called for greater cooperation in the implementation of the “One Belt, One Road” initiative and the 21st Century Maritime Silk Road project.