Najib: Malaysia-China total trade at US$96.3b in 2017

 |Feb 27, 2018

KUALA LUMPUR: Total bilateral trade between Malaysia and China last year remained strong at US$96.3 billion (RM376.5 billion) in spite of the uncertainty in the global economy, says Prime Minister Datuk Seri Najib Razak.

He said among the milestones of this relationship included the successful establishment of the China-Malaysia Qinzhou Industrial Park and the Malaysia-China Kuantan Industrial Park between 2012 and 2013.

“The Qinzhou start-up area of 7.87 sq km is almost completed and has attracted 90 major strategic investors so far who are investing a total of 90 billion renminbi (RM55.7 billion) in the park.

“In spite of the higher participation rate of the Chinese investors, 49 per cent of the Master Development share is held by a Malaysian consortium, which is jointly owned by Rimbunan Hijau Group and SP Setia Bhd,” he said in his speech at the Malaysia-China Bilateral Cooperation Lunar New Year luncheon here today.

Meanwhile, he said, one of Kuantan park’s first entrants, Alliance Steel (M) Sdn Bhd, would start operations by the second quarter of this year, with an investment of RM5 billion and provide 4,000 new jobs. — Bernama