KUALA LUMPUR: Malaysia’s total trade with China increased 3.3% 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.
In his keynote speech during the 21st China-ASEAN Expo (CAEXPO) promotional conference, Reezal said that E&E products made up 32.6% of the country’s total exports to the world’s second-largest economy.
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 said that China remained Malaysia’s largest trading partner and primary source for imports last year, while Malaysia was China’s 10 largest global trading partner as well as the second largest trading partner within ASEAN.
On CAEXPO 2024, he said that MATRADE is targeting 150 Malaysian companies to join the event, which will be held from 24-28 September 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 Malaysian Pavilion will be given special highlights.
We will have a significantly larger pavilion to provide ample space for Malaysian companies to showcase a wider range of offerings,” Reezal announced, highlighting that the CAEXPO is a golden opportunity for Malaysian companies to tap into the China market.
Last year, the Malaysia Pavilion – officiated by Prime Minister Datuk Seri Anwar Ibrahim – recorded a total sales of RM625.42 million and saw seven memoranda of understanding signed for further potential sales.
— BERNAMA
