FRIDAY, NOVEMBER 2, 2018, KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) is leveraging on China International Import Expo’s (CIIE) 2018 focus to promote China’s imports by coordinating the participation of 80 Malaysian companies at the event. The initiative is jointly organised with the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Malaysia-China Chamber of Commerce (MCCC).
The CIIE which takes place from 5 – 10 November 2018 in Shanghai, China was announced in 2017 by China’s President Xi Jinping who described the event as one of China’s key initiatives to demonstrate China’s seriousness in opening up its economy for more imports. At the event, MATRADE will be championing Malaysian high value sectors in particular high intelligence equipment and services. Potential buyers from 81 countries are expected to meet Malaysian companies there.
The mission to the CIIE 2018 will be led by YB Datuk Darell Leiking, the Minister of International Trade and Industry. The import expo features seven sectoral pavilions namely Trade in Services; Automobile; High – end Intelligence Equipment; Consumer Electronics & Appliances; Apparel, Accessories & Consumer Goods; Medical Equipment & Healthcare Products and Food & Agricultural Products.
According to Ir. Dr. Mohd Shahreen Madros, MATRADE’s Chief Executive Officer, MATRADE has identified the CIIE as an ideal platform to assist Malaysian companies to promote their brands to China as well as to the countries along the Belt and Road route.
“Malaysia can take advantage of the opportunities available from the Belt and Road Initiatives which main objective is to promote unimpeded trade. As China is our largest trading partner since 2009, we need to ramp up efforts in facilitating Malaysian companies’ access to the market so our trade with China will remain competitive,” he said.
In 2017, Malaysia’s total trade with China was recorded at RM290.65 billion as compared to RM240.71 billion in 2016, registering a growth of 20.7 per cent. Malaysia’s exports to China were valued at RM126.15 billion while imports were recorded at RM164.50 billion in the same year. For the first eight months of 2018, Malaysia’s trade with China further expanded by 9.6 per cent to RM206.19 billion. Malaysia’s exports to China in the same period increased by 11.0 per cent. Higher exports were registered for Electrical and Electronics products, chemicals and chemical products, manufactures of metal as well as optical and scientific equipment.