KUALA LUMPUR, April 29 — Malaysia’s total trade with China increased 3.3 per cent year-on-year to over RM112 billion in the first quarter of this year, according to the Malaysia External Trade Development Corporation (Matrade).
Chairman Datuk Seri Reezal Merican Naina Merican said during the period, Malaysia recorded RM44.5 billion worth of exports to China with electrical and electronics (E&E) products being the biggest exports.
E&E products made up 32.6 per cent of the country’s total exports to the world’s second-largest economy, he said in his keynote address at the 21st China-Asean Expo (CAEXPO) promotional conference here today.
Meanwhile, imports were valued at RM67.78 billion comprising intermediate goods meant for the manufacture of products for exports such as E&E products, machinery, equipment and parts, as well as chemicals and chemical products.
Reezal Merican said China remained Malaysia’s largest trading partner and primary source for imports last year, while Malaysia was China’s 10th largest global trading partner as well as the second largest trading partner within Asean.
On CAEXPO 2024, he said Matrade is targeting 150 Malaysian companies to join the event, which will be held from Sept 24-28 this year in Nanning, China.
“This year would be special for Malaysia, as we have been invited to be the country of honour and the Malaysia Pavilion will be given special highlights.
“We will boast a significantly larger pavilion, providing ample space for Malaysian companies to showcase a wider range of offerings,” he said.
Reezal Merican said CAEXPO 2024 presents a golden opportunity for Malaysian companies to tap into the vast China market.
“Don’t miss out on this chance to showcase your brand, connect with key players, and propel your business to new heights,” he added.
The Malaysia Pavilion at last year’s CAEXPO, which was officiated by Prime Minister Datuk Seri Anwar Ibrahim, recorded total sales of RM625.42 million and saw seven memoranda of understanding signed for further potential sales. — Bernama
