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BUSINESS

China-Malaysia trade reached US$176.8 billion in 2021

25/01/2022 07:45 PM

KUALA LUMPUR, Jan 25 -- Total trade volume between China and Malaysia reached US$176.8 billion (RM739 billion) in 2021 with a year-on-year growth of 34.5 per cent amid the battle against COVID-19.

China's ambassador to Malaysia Ouyang Yujing said the flagship projects such as “Two Countries, Twin Parks” and East Coast Rail Link (ECRL) have also proceeded smoothly.

“The bilateral trade and investment has maintained a good momentum. It is fair to say that China-Malaysia friendly cooperation has set a good example for regional cooperation,” he said during the Chinese New Year 2022 reception hosted online by the China Embassy here, Tuesday.

Ouyang also expressed hope that cooperation between Malaysia and China will scale new heights while collaboration between both countries would continue to deepen in the post-pandemic era.

“I am looking forward to see both countries strengthening synergies between national strategies, seizing opportunities in the post-pandemic era, expanding and enhancing trade and investment cooperation, and further unlocking the full potential in areas including digital economy, green development and high technology.

“I believe this will inject a strong impetus into both countries’ economic recovery, and bring more benefits to the people of both countries,” he said. 

He also hoped that China and Malaysia will step up cooperation in procurement, research and development and production of vaccines, so that both countries can forge a health shield against any public health crisis in the future. 

He said although continuous emergence of new variants have posed increasing difficulties to the global fight against COVID-19, he believed the battle against COVID-19 can be won. 

“I am convinced as vaccines are being rolled out across the world, as long as we empower ourselves with strong faith, spirit of solidarity and scientific policies, we will finally emerge from the pandemic’s darkest hour and see the bright light of victory,” he said.

Ouyang said China has fulfilled its commitment of making COVID-19 vaccines a global public good.

He said to date, more than 40 million doses of Chinese vaccines had been delivered to Malaysia to help in its fight against COVID-19.

Globally, China has provided over two billion doses of vaccines to over 120 countries as well as international organisations, accounting for one-third of the total number of vaccines administered outside China.

He said China has also supported Chinese companies in transferring technology to other developing countries and carrying out joint production with 20 countries.

On ASEAN, Ouyang said China, together with Malaysia and other ASEAN countries will work in striving towards common prosperity in the region. 

He noted that China and ASEAN have upgraded their relationship to a Comprehensive Strategic Partnership last year while the Regional Comprehensive Economic Partnership (RCEP) took effect at the beginning of this year.

“East Asia cooperation ushers in a new stage with new opportunities. I hope China, Malaysia and other ASEAN countries will uphold the Asian values of unity and coordination, work together for peace, stability, progress and development of Asia-Pacific.

“Let us bid farewell to the past and work together for a shared future,” he said. 

Chinese worldwide will usher in the Lunar New Year represented by the Tiger zodiac sign on Feb 1 this year. 

-- BERNAMA


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