China-Malaysia bilateral trade volume, investment grew in 2021, Sarawak top business partner in H1 2022

Xing delivering his speech tonight (Sept 18, 2022) at the KCTIEA 48th Anniversary Dinner Celebration. Screenshot taken from a Sarawak Public Communications Unit (Ukas) Facebook Live video.

By Ashley Sim and Ling Hui

KUCHING, Sept 18: Bilateral trade volume between China and Malaysia hit a record high of US$176.8 billion last year, and investment rose by 61 per cent to US$1.6 billion.

According to the Consul General of the People’s Republic of China in Kuching His Excellency Xing Weiping, it has resulted in growth in trade and investment.

“From January to July of this year, China and Malaysia’s trade value reached US$114.5 billion, representing a 20.7 per cent increase year on year.

“I’d also like to mention that, according to the Department of Statistics Malaysia, Sarawak is one of China’s top business partners in the first half of the year,” Xing said tonight at the Kuching-China Trade Importers and Exporters Association (KCTIEA) 48th Anniversary Dinner Celebration, which was held at a restaurant here.

He also disclosed that the strengthening of bilateral cooperation in infrastructure, energy, agriculture, and other areas has reaped tangible benefits for the people of the two nations.

He said the China Trade Importers and Exporters Association has consistently participated in the Canton Fair, ASEAN Expo, and various trade fairs held in China since its inception.

“The association also actively organised various economic, trade, and cultural events that helped to promote economic and trade exchanges and cooperation between China and Malaysia,” Xing added.

He also noted that, in the face of the Covid-19 pandemic, China-Malaysia economic and trade cooperation has demonstrated strong vitality and resilience, yielding fruitful results, with China becoming Malaysia’s largest trading partner for 13 consecutive years.

“Of course, the Sarawak government plays an important role in the economic and trade development between China and Malaysia (Sarawak),” he added. — DayakDaily