Council does its bit to improve business and trade relations

  • Nation
  • Thursday, 27 May 2004

KUALA LUMPUR: Malaysia-China business and trade relations are set to take off in a bigger way following the establishment of the Malaysia-China Business Council two years ago. 

According to council joint secretary-general Datuk Michael Yeoh, the business and economic climate in China had improved tremendously with a much more transparent regulatory framework following its entry into the World Trade Organisation. 

Since diplomatic relations between the countries kicked off three decades ago, there had been much improvement in bilateral trade and business relations.  

“There are many corporations which have ventured into China, especially in the property development and hospitality sectors, infrastructure development including toll highway concessions and road building, pharmaceutical manufacturing, motorcycle assembly and the retail sectors,” Yeoh said in an interview here yesterday. 

On the other hand, Malaysia offers a gateway for Chinese businesses to gain entry into the Asean markets as well as into the Middle East and other Muslim countries. 

“Undoubtedly the strong ties between the two countries will see a more positive development in the future. The Prime Minister’s visit to China will further nurture and deepen the existing good relations for the mutual benefit of both countries.” 

Yeoh said he also foresees potential for Chinese companies to be listed on Bursa Malaysia, adding that this should be actively promoted to attract more Chinese investors to our shores. 

Bilateral trade between the countries have shown a strong growth in the first quarter of this year, with Malaysia’s exports to China up by 80%, he said.  

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