Connectivity with China a priority

BEIJING: Malaysia is ready to work with China on developing connectivity, said Transport Minister Datuk Seri Liow Tiong Lai.

Among others, ports in Malaysia will be upgraded and more free trade zones and industrial parks will be built near the ports.

“Our open-door policy allows 30% to 40% of Chinese investments in our ports,” he said.

“We also welcome Chinese partners to invest in Port Klang and Port of Tanjung Pelepas, which are among the top 20 ports in the world.

“We will also ensure safe and unobstructed navigation in the Strait of Malacca.”

Forty-one years ago, Malaysia became the first country in South-East Asia to have formal ties with China. It is now China’s largest trading partner in Asean and the third largest in Asia.

Liow added that Malaysia wanted to be an active partner in China’s Belt and Road initiative.

Malaysia and China could complement each other and carry out effective matching of supply and demand, said the MCA president.

“While deepening our bilateral co-operation, Malaysia can also play the role of a co-ordinator for China to expand into the markets of other Asean and neighbouring countries,” Liow said at the opening ceremony of the “One Belt and One Road, China-Malaysia Business Dialogue” here yesterday.

Co-organised by MCA and the China Economic Cooperation Centre, the one-day dialogue was attended by 250 businessmen and government officials from both Malaysia and China.

The Belt and Road, a collective term for Silk Road Economic Belt and 21st Century Maritime Silk Road (MSR), is a proposal by China to promote regional economic cooperation and development.

Last year, the total two-way trade was recorded at US$102bil (RM387.9bil). Both countries have a trade goal of US$160bil (RM608.3bil) by 2017.

Malaysian ambassador to China Datuk Zainuddin Yahya said the strong friendship between Malaysia and China had given opportunities for greater collaboration and synergies among the private sectors.

He welcomed more Chinese companies to explore opportunities in Malay­sia to reduce the investment imbalance between the two countries.

“Malaysia is a preferred destination for foreign investors for many reasons, such as political stability, abundance of skilled workforce, good infrastructure and incentives from government,” he said.

Drawing attention to Malaysia’s Economic Transformation Pro­gramme, Zhou Li, vice-minister of the international department of the central committee of the Communist Party of China (CPC), said Chinese entrepreneurs could identify the trade and investment opportunities available in Malaysia.

During the panel discussion titled “One Belt, One Road and China-Malaysia Cooperation”, MCA secretary-general Datuk Seri Ong Ka Chuan said Malaysia, as the chair of Asean this year, could lead the rest of the member countries in developing the Asean economic system together and create more economic opportunities.

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