Home NATION China-M’sia trade at RM191 billion for Jan-Oct 2016 period

China-M’sia trade at RM191 billion for Jan-Oct 2016 period

China-M’sia trade at RM191 billion for Jan-Oct 2016 period
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From January to October 2016, trade to China was recorded at RM191.65 billion and exports were at RM77.4 billion. During the same period, trade to ASEAN was valued at RM328.58 billion and exports to ASEAN remained strong at 4.2 percent or RM7.62 billion to reach a value of RM188.27 billion, compared to RM180.65 in the corresponding period last year.

These figures were released in conjunction with a statement that Malaysia External Trade Development Corporation (MATRADE) is collaborating with Guangxi Qinzhou Free Trade Port Area Administration Committee (GQFTPAC) and Industrial and Commercial Bank of China (ICBC) Malaysia to launch the China – ASEAN SME Trade Promotion Platform aimed at helping Malaysian exporters to enhance their entry not only into China but the ASEAN market as well. The platform is set to improve access to a combined market size of 1.9 billion consumers.

The event, graced by Deputy Minister of International Trade & Industry (Trade) YB Datuk Chua Tee Yong, was attended by more than 200 companies. Also present was MATRADE’s CEO, Dato’ Dzulkifli Mahmud, Executive Deputy Director of Guangxi Qinzhou Free Trade Port Area Administration Committee and Assistant CEO of Industrial and Commercial Bank of China (Malaysia) Berhad (ICBC Malaysia), Mr Wang Xiong Chang.

The platform offers two channels – both online and offline – for Malaysian companies called Haigou 365 and MAYI Imported Goods. The former is an e-commerce platform for online sales of products which focuses on before and after sales services while the latter is a service that integrates facilitation on purchase, customs clearance as well as logistics and export management.

According to MATRADE’s Chief Executive Officer Dato’ Dzulkifli Mahmud, China – ASEAN SME Trade Promotion Platform is a product of a strategic collaboration between MATRADE, GQFTPAC and ICBC. “This platform will be useful for Malaysian companies, particularly Small and Medium Enterprises (SMEs), to ease their efforts to reach out to the consumers in China and ASEAN. The platform is suitable for a lot of our exporters as it offers a comprehensive service that caters to both before and after sales requirements,” Dato’ Dzulkifli said.

He urged Malaysian companies to leverage on the opportunities provided by the new platform to ensure they get to reap the rewards of Malaysia’s strong bilateral relationship with China and the 10 ASEAN member states.

The China – ASEAN SME Trade Promotion Platform embodies the essence of One Belt One Road initiative and will allow more Malaysian companies to supply to China especially to its 2nd and 3rd tier cities and to strengthen Malaysia’s intra-ASEAN trade.

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