Malaysia-China bilateral trade to exceed US$200 billion this year, says association

KUCHING (Sept 21): Malaysia-China’s bilateral trade has been projected to exceed US$200 billion by this year’s end, up from US$190 billion in 2023.

Kuching China Traders Importers and Exporters Association (KCTIEA) president Datuk Yii Ming Tang said the significant growth is attributed to Malaysia’s deeply rooted partnership with China, which offers boundless prospects for cooperation.

“With the expansion of China’s trade market in recent years, we have also organised trade delegations to participate in various exhibitions and fairs.

“These events not only reflect the increasingly close economic cooperation between Sarawak and China, but also provide our members with the latest market trends and endless business opportunities,” he said.

He said this in his speech at the 50th anniversary of Malaysia-China diplomatic relations and Mid-Autumn Festival commemorative dinner, here Friday.

Despite numerous global challenges faced in recent years, including frequent political conflicts and natural disasters caused by climate change, Yii said these had not affected the growth of foreign investments of Asean countries.

“Last year, Asean attracted a total of US$206 billion in foreign direct investment, indicating that our region is becoming a driving force in global economic recovery,” he said, adding that this positive trend will boost the country’s economic growth.

He also attributed much of this success to Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg and his initiatives in advancing the state towards green economy, infrastructure, and talent development.

“Under the Premier’s leadership, Sarawak is well-positioned for future growth and its cooperation with China is flourishing, particularly in trade, technology, and cultural exchanges.

“Together, both nations are paving the way for a prosperous future,” Yii said.