Malaysia, China economic collaboration to bolster supply chains, trade in services sector - Tengku Zafrul

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

KUALA LUMPUR: Three economic collaborations between Malaysia and China will significantly bolster supply chain resilience, fuel trade expansion in the services sector and attract high-quality investments, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said the agreements would also mainstream digitalisation, sustainability, and innovation while deepening human capital development and people-to-people ties.

The collaborations are the Five-Year Programme for Economic and Trade Cooperation between Malaysia and China, along with two additional memorandums of understanding on Strengthening Investment Cooperation in Digital Economy and Green Development.

"Malaysia is dedicated to further solidifying our existing robust economic ties with China.

"These three agreements pave the way for a new chapter of economic collaboration, fostering even more shared prosperity for both nations,” the minister said in his welcoming remarks at the China and Malaysia Business Community luncheon today.

Tengku Zafrul also shared that Malaysia and China are deliberating an exciting new cooperation under the ‘Two Countries Twin Parks’ framework.

He said both countries are also building on successful collaborations in advanced manufacturing and electric vehicles, which would unlock new opportunities in these key sectors.

"I look forward to jointly announcing the conclusion of discussions on these new cooperation arrangements in the near future,” he said.

Tengku Zafrul noted that Malaysia and China’s bilateral relationship, with economic cooperation at its core for the past half century, has left an indelible mark.

"We have forged linkages in numerous areas, notably in railway infrastructure and technology, the automotive sector, manufacturing, fintech and trading, among others,” he added. - Bernama

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