MATRADE Renews Its Mou with The China Construction Bank (CCB) Malaysia to Boost Exports and Market Access to China
Renewal Concluded at 6th Malaysia-China B2B Business Matching Session, in Conjunction with the 21st China-ASEAN Expo, Kuala Lumpur
WEDNESDAY, 5 SEPTEMBER 2024, KUALA LUMPUR, MALAYSIA: The Malaysia External Trade Development Corporation (MATRADE) has renewed its commitment to accelerating market access to China by signing a Memorandum of Understanding (MoU) with the China Construction Bank (CCB) Malaysia.
The primary purpose of this MoU is for both parties to leverage their expertise and networks to benefit the business communities of both nations, while also strengthening alliances with international financial institutions. This will encourage greater cooperation between Malaysian exporters and Chinese enterprises, providing more market access and financing options. China Construction Bank (CCB) Malaysia, with its extensive branch network across mainland China, will serve as a key intermediary, facilitating business connections and offering financial solutions. Additionally, both parties will collaborate in organising and participating in trade-related events to further enhance trade with China.
“This collaboration represents a significant step forward in our efforts to support Malaysian exporters by granting them greater access to China market, along with various financing solutions and assistance. With MATRADE's extensive experience in promoting Malaysian products and services globally, combined with the strong network of the China Construction Bank (CCB) Malaysia, we are confident that this MoU will serve as a platform to further strengthen trade relations between our countries,” said YB Dato’ Seri Reezal Merican Naina Merican, Chairman of MATRADE. He added that this partnership is also part of MATRADE’s strategy to boost exports to China and leverage free trade agreements like the Regional Comprehensive Economic Partnership (RCEP).
The MoU renewal ceremony was held during the 6th Malaysia-China B2B Business Matching Session which was jointly organised by The Malaysia External Trade Development Corporation (MATRADE), China Construction Bank (CCB) Malaysia, the China-ASEAN Expo (CAEXPO) Secretariat, as well as the Embassy of the People's Republic of China in Malaysia.
The Malaysia-China B2B Business Matching Session, a key event under this partnership, began in 2019 and stemmed from a 2018 MoU between MATRADE and CCB Malaysia. Since the MoU's renewal in 2022, the initiative has continued to foster trade opportunities, evolving to include hybrid and virtual formats to adapt to the changing global landscape.
This year's event will feature over 291 enterprises, including 116 Malaysian and 175 Chinese companies, participating in 403 business meetings through CCB's "Match Plus" platform. The two-day session will cover sectors such as healthcare and wellness, lifestyle, food and beverages, agriculture produce and services.
The official launch ceremony took place today at the Kuala Lumpur office of The China Construction Bank, as well as simultaneously in Nanning and Beijing. Distinguished guests, including H.E. Ouyang Yujing, Ambassador of the People's Republic of China to Malaysia, and YB Dato’ Seri Reezal Merican Naina Merican, Chairman of MATRADE, addressed the participants. The ceremony concluded in the signing of Memorandums of Understanding (MoUs) between key Malaysian and Chinese enterprises.
Over the years, the Malaysia-China B2B Business Matching Session has yielded impressive results. The 5th edition, held in 2023, recorded 140 business transactions worth around RM7.52 billion (USD 1.68 billion). This year, expectations are high as the event aims to build upon this success and further enhance bilateral trade between Malaysia and China.
The 6th Malaysia-China B2B Business Matching Session represents a significant milestone in the continued collaboration between Malaysia and China. With strong support from both governments and private sectors, this event is poised to open new avenues for trade and investment, contributing to the growth and prosperity of both nations.
Bilateral trade performance between Malaysia and China reached RM275.8 billion (USD 58.45 billion) from January to July 2024. To date, Malaysia has exported RM105.47 billion (USD 22.34 billion) worth of goods, with a notable increase in exports of electrical and electronics products (E&E). Imports from China were valued at RM170.34 billion (USD 36.1 billion), mainly comprising E&E products, machinery, equipment and parts, as well as chemicals and chemical products. As Malaysia's export promotion agency, MATRADE will continue to provide various export facilitation services to help Malaysian companies penetrate the Chinese market.
