Malaysian firms rake in rm86m sales at CIIE

Kuala Lumpur: Malaysia companies recorded total sales worth US$20.50 million (RM86.03 million) during their first participation in the 1st China International Import Expo (CIIE).In a statement on Sunday, the Ministry of International Trade and Industry (Miti) said immediate sales were valued at US$11,500 (US$1=RM4.17) while potential sales were worth US$20.49 million at the six-day event which started from Nov 5.

Through the first participation in CIIE, the Malaysian companies received a total of 1,267 trade enquiries.

Miti Minister Datuk Darell Leiking led the Malaysian delegation to the CIIE held in Shanghai, and a working visit to Hangzhou and Yiwu, Zhejiang Province, China from Nov 4-11, 2018.

He was accompanied by Sim Tze Tzin, Deputy Minister of Agriculture and Agro-based Industry, officials from Malaysian Investment Development Authority (Mida), Malaysia External Trade Development Corporation (Matrade) and InvestKL.

SPONSORED CONTENT

Sabah revenue hits RM6.97 billion: Hajiji says GRS State Government may see full term

Kota Kinabalu: The Sabah Government continued its momentum in managing the economy in line with the commitment and spirit of the Sabah Maju Jaya (SMJ) when it posted record high state revenue of RM6.973 billion last year.

Malaysia's participation in the CIIE shows the country's support for trade and investment activities between Malaysia and China, and other participating countries.

"Malaysia's openness will boost investors' and exporters' confidence in choosing Malaysia as a trading partner and investment destination and to establish network among businesses from Malaysia and other countries," Miti said.

In Shanghai, Darell attended the welcoming banquet and opening ceremony of the CIIE which was graced by Chinese President Xi Jinping.

Xi predicted that the import of high value goods and services would exceed US$30 trillion and US$10 trillion respectively in the next 15 years, from countries along the Belt and Road Initiative.

Xi also announced a number of measures including lowered tariffs and ease market access to promote common growth and build an open global economy.

Malaysia welcomes such initiatives as it will boost bilateral and regional trade and investment activities.

Darell also visited technology companies such as Huawei Shanghai Research and Development Centre and Mobile Broadband (MBB) Shanghai, JD.com Logistic, United Imaging, Shanghai and Alibaba Group.

Stay up-to-date by following Daily Express’s Telegram channel.

Daily Express Malaysia

The companies' management briefed the minister on their expansion plans and are exploring Malaysia as the principal hub.

Malaysia's attractive incentives and conducive business environment are the essential aspects to consider in making the country as the regional hub and stepping stone for the Southeast Asian market. – Bernama

Try 1 month for RM 18.00

Try 1 month for RM 18.00

Try 1 month for RM 18.00