Malaysia, China To Strengthen Trade In Services, Cooperate In Industrial Parks, AI And Digital Economy

KUALA LUMPUR, April 16 (Bernama) -- Malaysia and China have signed several memoranda of understanding (MoUs) that potentially will enhance trade in services and industrial cooperation as well as take economic linkages to a significantly higher level.

Both countries, which enjoy brisk trade and investment linkages, signed, among others, MoUs on cooperation in trade in services as well as the upgrading of the China-Malaysia “Two Countries, Twin Parks” initiative.

MoUs were also signed involving cooperation in artificial intelligence (AI) and the digital economy.

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There was also an MoU between the State Administration for Market Regulation (the Standardisation Administration) of China and the Department of Standards Malaysia for cooperation in standardisation.

The signing of the MoUs and documents was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and visiting Chinese President Xi Jinping today, according to a statement released by the Prime Minister’s Office today.

Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz and China‘s Minister of Commerce Wang Wengtao represented Malaysia and China, respectively, in exchanging the documents relating to the trade in services, twin parks and standardisation.

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The twin parks relate to the Malaysia-China Kuantan Industrial Park (MCKIP) and the China-Malaysia Qinzhou Industrial Park in China, which have become a model of modern cross-border cooperation.

Also exchanged were the MoUs between the Digital Ministry and China’s National Development and Reform Commission (NDRC) on AI as well as on the digital economy, which were signed by Digital Minister Gobind Singh Deo and NDRC chairman Zheng Shanjie.

The ceremony was held this afternoon at the Seri Perdana Complex here in conjunction with Xi’s three-day state visit to Malaysia which began yesterday.

-- BERNAMA