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There are very good reasons for Malaysia and China to be doing much more business with each other not only in the future but right now, said visiting Malaysian Prime Minister Abdullah Ahmad Badawi in Beijing Friday.
Addressing the opening ceremony of the Malaysia and China Business Dialogue, Badawi said the Malaysian and Chinese economies are complementary in numerous spheres, involving electronic products, infrastructure development, medicines and logistics.
He gave an example that Malaysia and China are both important markets as well as important sources of imports for each other.
Another example the prime minister gave is that the people of the two countries both like to travel to the other country.
Badawi also listed the fields in which he hopes the two nations will strengthen cooperation, which are construction and professional services, information and communications technology, education, health-care services and franchise arrangements.
Wan Jifei, chairman of the China Council for the Promotion of International Trade (CCPIT), said bilateral trade relations have developed very fast in recent years and Malaysia has become the largest trading partner of China in the Association of Southeast Asian Nations (ASEAN) members.
"This is the outcome from the leaders of both countries having attached great importance to bilateral trade relations," said Wan.
According to statistics of the General Administration of Customs of China, bilateral trade volume in 2003 reached US$20.1 billion, nearly 126 times that of 1975. China has become the fourth largest trading partner with Malaysia.
Badawi arrived in Beijing Thursday for his five-day official visit to China.
(Xinhua News Agency May 29, 2004)
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