Kuala Lumpur: Malaysia-China trade and investment saw an eight percent growth or RM58 million in total trade for the first 10 months of 2004, said Deputy Minister of International Trade and Industry, Datuk Ahmad Husni Hanadzlah.For the whole of last year, Malaysia-China trade and investment reached RM54 million, an increase of 7.3 percent from RM43 million registered in 2002.
The increasing trend annually in the trade and investment between Malaysia and China is largely due to the good bilateral trade relationship between the two countries, he said.
"That is why Malaysia has now become China's largest trading partner among the Asean countries and seventh globally," he told reporters after meeting a delegation from China to discuss the upcoming second China-Asean Expo in 2005, here Tuesday.
With its 1.3 billion population, an increasingly wealthier middle class community and entry to the World Trade Organisation, China offers abundant business opportunities to be explored, Ahmad Husni said.
He said Malaysian entrepreneurs who planned to enter the China market should focus on products and services currently in demand.
These would include construction and building materials, food products and many more, he said.
On the outlook for China's investment in Malaysia, Ahmad Husni said Malaysia remained a profitable investment location for Chinese enterprises to invest in the manufacturing and manufacturing related services sectors.
"Malaysia would like to see more Chinese companies come and invest in Malaysia next year," he added.
Among the sectors that Chinese investors can invest are resource-based industries, machinery manufacturing, chemical products, hi-tech and information and communications technology sectors.
Malaysia's main exports to China are electrical machinery, palm oil, mineral fuels, optical and medical instruments and vehicles.
On the China-Asean Expo, Ahmad Husni said the expo would give extra advantages for the Malaysian companies to promote and market their products overseas. - Bernama
