KUALA LUMPUR, April 17 (Bernama) -- Malaysia and China will deepen economic cooperation by focusing on four key sectors — the digital, green, blue, and tourism economies — with efforts aimed at enhancing integration across industrial, supply, value, data, and talent chains.
In a joint statement on building a high-level strategic Malaysia-China community with a shared future, both countries agreed to become a pacesetter for regional cooperation on new quality productive forces, promote the Belt and Road Initiative Cooperation Plan’s implementations (signed in 2024), and further align development strategies.
The joint statement was issued following Chinese President Xi Jinping’s three-day state visit to Malaysia, which concluded today at the invitation of His Majesty Sultan Ibrahim, the King of Malaysia.
It said both sides spoke highly of the nearly thousand-fold increase in bilateral trade volume in the past 50 years since the establishment of diplomatic relations and committed to jointly implementing the Five-Year Programme for Economic and Trade Cooperation (2024–2028) to consolidate the outcomes of economic and trade cooperation and expand the trade scale.
Both parties agreed to collaboratively establish a safe and stable industrial and supply chain, enhancing cooperation. Malaysia-China will promote mutual investment and strengthen exchanges in high-value, high-growth (HVHG) industries.
This strategic focus will attract quality investments, accelerate technology adoption, and strengthen Malaysia’s role in global supply chains, according to the statement.
It also highlighted that the two sides will promote the upgrading of the “Two Countries, Twin Park” cooperation, support the high-quality development of economic and trade cooperation zones, and provide a better business environment for their enterprises.
Recognising the importance of a high-level bilateral investment agreement in promoting investment cooperation, the two sides acknowledged the possibility of future engagement to explore ways to enhance the liberalisation and facilitation of two-way investment.
They also plan to improve the level of investment protection within the context of the current bilateral investment agreement.
Both parties will jointly explore cooperation on new quality productive forces, create new growth points in cutting-edge areas such as advanced manufacturing, artificial intelligence, and quantum technology, deepen smart city cooperation, and strengthen the integrated development of industrial and supply chains.
In addition, Malaysia welcomes Chinese enterprises to participate in the country’s 5G network construction.
Both sides look forward to exploring potential cooperation in the semiconductor industrial chain to the extent practicable, to maintain the stability of the industrial and supply chains.
Malaysia and China acknowledged that e-commerce is a vital catalyst for trade and economic growth, innovation, and the development of micro, small, and medium-sized enterprises (MSMEs).
Building upon the longstanding collaboration in this area, both sides will deepen cooperation in the e-commerce ecosystem to contribute towards greater, sustainable economic linkages and bring about tangible benefits to both economies.
The parties will continue to encourage enterprises to promote cooperation in the field of new energy based on business principles, and jointly create new forms of green economy.
They will explore and promote cooperation on rail equipment, aerospace and nuclear power, support Malaysian airlines in introducing and operating Chinese commercial aircraft, and facilitate the industrial upgrading and energy transformation of both countries.
The two nations also agreed to enhance cooperation on infrastructure connectivity, jointly implement key projects such as the East Coast Rail Link, promote rail-sea transportation, and improve regional connectivity.
Both countries encourage their ports to strengthen cooperation and facilitate blue economy development.
Both sides are committed to exploring and creating more strategic and iconic cooperation projects based on mutual trust, mutual benefit, and win-win results.
They are committed to comprehensive aviation cooperation and will strengthen the technical exchange of civil aviation expertise and enhance aviation logistics cooperation between Kuala Lumpur International Airport and Zhengzhou Xinzheng International Airport to realise the common vision of a seamless “Air Silk Road” between ASEAN and China.
Malaysia and China reaffirmed their commitment to strengthening rail transportation and infrastructure cooperation and contributing to the realisation of the Pan-Asian Railway vision.
-- BERNAMA
