KUALA LUMPUR: Malaysia's close proximity to Hainan, China, opens up an opportunity to enhance mutual understanding and collaboration, maximising the country's role as the gateway to Asean, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.
Hainan, which is an island province of China and the nation's southernmost point, is the closest location to Malaysia with less than five hours by flight. Hainan is also China's largest free trade port.
"On the other hand, Malaysia holds a significant position within the entire Southeast Asian supply chain and can provide the necessary land, infrastructure, human resources, and policies. It's a pivotal component of the supply chain and can support many industrial activities," said Liew.
He made these remarks at the 13th Malaysia-China Entrepreneurs Conference 2023 held in Haikou, Hainan, yesterday (October 22), according to a statement issued by the Malaysia-China Chamber of Commerce.
Liew also said he looks forward to the continued deepening of the trade and investment ties with China.
At the conference, the deputy minister also shared the Madani Economy framework outlined by Prime Minister Datuk Seri Anwar Ibrahim, which aims to attract high value investments, domestic and foreign alike.
"We look to drive transfer of skills and knowledge, high-skilled employment, strong linkages with domestic small and medium enterprises, and more equitable distribution of wealth with the goal of building a stronger middle class society," he explained.
China has been Malaysia's largest trading partner since 2009, and just last year, the value of trade between Malaysia and China was about 17.1 per cent of Malaysia's total global trade worth RM2.8 trillion.
Total trade between the countries last year was RM487.13 billion, an increase of 15.6 per cent compared to the previous year.
This year marks the 10th anniversary of the establishment of the Malaysia-China comprehensive strategic partnership, and the two countries will also celebrating the 50th anniversary of their diplomatic relations next year. – Bernama