KLANG: Malaysia should not have an inferiority complex about its trade cooperation with China because it has its own competitive edge and strengths, said Datuk Seri Ong Ka Chuan.
The International Trade and Industry Minister II said that Malaysia’s competitive edge and strengths were the very reasons it enjoys special treatment from China.
“The availability of many raw materials with value-added products and a good ecosystem for the semiconductor industry to grow are some of the eminent reasons why China investors favour Malaysia.
“We should not have an inferiority complex about this and think that it is a favour from China. We have our edge.
“In fact, the trade co-operation with China is valuable and also the way forward for Malaysian businesses to be competitive and better in the open market,” he said after opening the 4th Malaysia Klang International Expo by the Klang Chinese Chamber of Commerce and Industry here Friday.
Being the largest trading partner for Malaysia, Ong said that China is also the largest trading partner for some 90 other countries in the world.
“Given the trend, the momentum of future economic growth will focus in the Asia Pacific region and be driven by China.
“As businesses in China are actively ‘going out’ for overseas investments and its One Belt One Road strategy, Malaysia must find ways to secure more room for economic development to avoid any economy predicament,” he said.
Contributing over 30% in Malaysia GDP, Ong said the small-medium enterprises (SMEs), especially the Chinese business community were in the position to become a comrade-in-arm for China to tap the huge Asean market.
“It imperative for SMEs to widen their business perspective and embrace competition instead of being daunted by the emergence of big powers.”
Ong also noted that Malaysia needed a more holistic approach to allow the export of Malaysian fruits to China, as the Chinese are eyeing more offer of tropical fruits.
“We have signed several agricultural protocols with China to export durian, pineapple and bird nest.
“A more holistic approach will be better to allow the export of a cluster of produce instead of just a type in particular,” he said, adding that last year, Malaysia exported RM540mil of various fruits worldwide and 6% went to China.
Ong also noted that Malaysia is confident of reaching RM1.46tril in trade by the end of the year considering the positive figures and growth achieved so far.
“As at September, Malaysia achieved RM1.077tril in trade volume, which is a RM6bil (0.6%) increase compared with the same period last year.
“We are confident of achieving a better trade performance this year,” he added.
Expo organising chairman Datuk Jeffery Tan said that the three-day event featured 218 exhibition booths, offering wide spectrum of products and services, ranging from food to machinery and telecommunication.
“There are also 110 booths that feature overseas exhibitors, who are mainly from China.
“Another business-matching session will also be held with traders from other Asean countries,” he said, adding that the expo targeted to achieve RM50mil worth of trade deals.
