Malaysia Strengthens Economic Ties with China Through Strategic Trade Initiatives.
Kuala Lumpur, 19 November 2024 – The Malaysia External Trade Development Corporation (MATRADE) has recorded remarkable success at the 7th China International Import Expo (CIIE), held from 5 to 10 November 2024 in Shanghai, China. With over RM300 million in trade prospects secured, Malaysia demonstrated its growing economic influence in the Chinese market, significantly surpassing the initial target of RM160 million.
This year’s event was particularly noteworthy as Malaysia was honoured as one of six Guests of Honour, alongside Saudi Arabia, France, Nicaragua, Uzbekistan, and Tanzania, in celebration of the 50th anniversary of Malaysia-China diplomatic relations.
Malaysia Pavilion Highlights Trade and Diplomatic Achievements
The Malaysia Pavilion, organised in collaboration with Bank of China (Malaysia) Berhad (BOCM), PETRONAS, and Seri Pajam Development Sdn Bhd, showcased the capabilities of 16 Malaysian exhibitors. The pavilion was officially inaugurated by the Honourable Dato’ Seri Anwar Ibrahim, Prime Minister of Malaysia, in the presence of key ministers, including the Minister of Foreign Affairs, the Minister of Investment, Trade and Industry, and the Minister of Human Resources.
The Pavilion highlighted Malaysia’s diverse economic strengths through its innovative products and services, which resonate strongly with the Chinese market. The presence of high-profile leaders further emphasised Malaysia’s commitment to strengthening economic and trade relations with China.
Strategic Engagement to Boost Trade Opportunities
MATRADE implemented a comprehensive strategy to maximise Malaysia’s impact at the CIIE. Key activities included:
- Business Matchmaking: Facilitating connections between Malaysian exporters and Chinese importers to foster meaningful partnerships.
- Promotional Campaigns: Launching digital marketing initiatives and live streaming sessions featuring local Key Opinion Leaders (KOLs) to engage Chinese consumers and businesses.
- Media Outreach: Coordinating with Chinese media to increase the visibility of Malaysian exhibitors and products.
These efforts not only enhanced Malaysia’s presence at the event but also facilitated significant trade engagements, enabling Malaysian businesses to access new markets and solidify their brand presence in China.
High Demand for Malaysian Products
Malaysian products received exceptional interest from Chinese buyers, particularly in sectors such as:
- Plastic components for the electronics and electrical (E&E) industry.
- Pewterware, renowned for its craftsmanship and quality.
- Footwear, combining style and durability.
- Health supplements, driven by rising health awareness in China.
- Durian-based food products, reflecting the enduring popularity of Malaysia’s “King of Fruits” in China.
The outstanding performance of Malaysian exhibitors underscores the robust demand for high-quality Malaysian goods in China and highlights the increasing appeal of Malaysian offerings among Chinese consumers.
A Milestone in Malaysia-China Relations
The success at the 7th CIIE reinforces Malaysia’s strong trade ties with China, its largest trading partner for over a decade. It also highlights MATRADE’s pivotal role in enabling Malaysian businesses to seize global opportunities through initiatives like the CIIE.
With a record-breaking RM300 million in trade prospects, the CIIE underscores Malaysia’s commitment to enhancing its global market presence while fostering economic collaboration with China. This achievement not only benefits Malaysian businesses but also strengthens the foundation for continued growth and prosperity in Malaysia-China economic relations.
