The Malaysia-China High-Level Business Dialogue was held in Beijing on Tuesday, bringing together business representatives from China and senior officials from Malaysia, including Malaysian Prime Minister Anwar Ibrahim.
Anwar is in China for commemorations marking the 80th anniversary of the victory in the Chinese People's War of Resistance against Japanese Aggression and the World Anti-Fascist War.
He also attended the Shanghai Cooperation Organization (SCO) Plus Summit in Tianjin on Monday.
At the dialogue, the Malaysian leader underscored the importance of strengthening bilateral trade ties.
"The promotion of trade investments is very critical, because that would mean development and progress for our countries. They will also allow for new players, provide the welfare of the industry, opportunities for labor, for workforce, and training for professionals. So it is actually much related to the overall development of our societies," said Ibrahim.
China has been Malaysia’s largest trading partner for 15 consecutive years, a sign of their strong, long-term relationship.
As energy products, agricultural goods and mechanical and electronic equipment account for the bulk of trade between the two countries, both sides are eyeing new areas with growth potential.
"I think still (there is great potential) in areas like a green economy, including also blue economy, AI, modern farming, and of course advanced manufacturing," said Low Kian Chuan, chairman of Malaysia-China Business Council.
Another expert said the two nations have great potential for steady trade growth.
"Overall, China-Malaysia economic and trade cooperation is highly complementary, with enormous potential for further growth. With the support of both bilateral and multilateral mechanisms, the two countries' cooperation is set to remain at the forefront of China-ASEAN relations," said Xu Jinli, director general of Bilateral Cooperation Department at the China Chamber of International Commerce (CCOIC).
Malaysian Prime Minister Anwar Ibrahim attends Malaysia-China Business Dialogue in Beijing to bolster trade ties
