China-Malaysia trade in 2022 exceeds US$200 billion

KOTA BHARU: Malaysia continues to be one of China’s main trading partners in Asean with the value of trade between the two countries exceeding US$200 billion (RM880 billion) last year, said Minister at the Chinese Embassy in Malaysia, Tang Rui.

He said the close relationship between the two countries was an important factor that saw cooperation in the economic sector increase and boost the value of trade.

“Last year total trade between both countries exceeded US$200 billion. That is very encouraging because Malaysia with a population of about 30 million can boast of a bigger trade volume with China than some larger countries,” he said at a press conference after officiating at the 10th Anniversary Celebration of the Belt and Road Initiative (BRI) and a visit to the East Coast Rail Link (ECRL) project site in Kampung Peringat here today.

Commenting further, Tang Rui said Malaysia will continue to be an important trading partner for China in Asean.

“China has been the largest trade partner with Malaysia over the last 14 years.

“This year after China has opened its borders, I notice more and more Chinese companies and enterprises coming to Malaysia seeking more opportunities, thus you can see the trade volume as a gauge of the trend and booming trade between China and Malaysia.

“I hope we can improve the relationship between both countries and I believe the total volume of trade will increase,” he said.

On the ECRL, Tang Rui said construction of the project in Kelantan has exceeded 40%.

“Until today more than 40% of the project has already been finished. That is encouraging.,” he said.

Tang Rui said the ECRL is a symbol of China’s BRI and is expected to be a success story. “I hope this project will benefit people in Kelantan, as a train journey to Kuala Lumpur will be reduced to just four hours, almost half the driving time.” – Bernama