Tuesday July 30, 2019 BIZIND
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By Li Qiaoyi in Kuala LumpurC
loser economic and cultural
bonds between China and Ma-
laysia, two important countries
along the sea route of the Belt and
Road Initiative (BRI), will serve as a
template for propelling growth amid
the rise of US protectionism. That’s
the key takeaway from a forum in
Kuala Lumpur on Monday attended by
Chinese and Malaysian government
offi cials and business executives.
Speaking at the China-Malaysia Fo-
rum on People-to-People Exchange and
Economic Cooperation, Chinese Am-
bassador to Malaysia Bai Tian said that
the China-initiated BRI enables wide-
ranging partnerships between China
and Malaysia and brings enormous
opportunities, citing two industrial
parks in Malaysia jointly developed by
both countries.
He also cited the restart of the East
Coast Rail Link project last week. The
resumption called an end to a year-long
suspension of the railway, designed to
connect the Southeast Asian nation’seast and west coasts, which has been
downsized due to cost concerns.
It is believed that the rail project,
when completed, will give Peninsular
Malaysia a makeover, revving up the lo-
cal economic and social development,
the ambassador said, adding that
Malaysia-produced items such as palm
oil and durians have been identifi ed to
have tremendous business potential in
the Chinese market.
In a fresh sign, Malaysia’s Agricul-
ture and Agro-based Ministry said in
mid-June that the nation’s exports of
frozen durian fruit to China, which
was approved by Chinese customs
starting late May, are estimated to hit
about 1,000 metric tons per month,
adding close to 500 million ringgit
($121.26 million) to the nation’s total
export value annually, according to
local media reports. Previously, only
pulp, paste and processed durians
were allowed to be shipped to China.
Xiao Yuan, a durian lover in Beijing
claiming to be always ready to stomach
the pungent fruit, said the availability
of Malaysian frozen whole durians pro-vides domestic consumers with more
choice. “I feel that the love for the
fruit is on the rise in China,” he told
the Global Times on Monday, saying
Malaysian-grown durians could be an
eff ective ambassador for the Southeast
Asian nation, which he reckons is less
known in China than Thailand, which
also exports durian that is more popu-
lar among Chinese people.Open, inclusive growth
The durian story is an example of
the potential for substantial BRI-en-
abled growth. The initiative has struck
a chord, pushing joint eff orts in both
nations to work toward fostering open
and inclusive multilateralism, forum
attendees said.
Malaysia has made its choice
regarding BRI construction and the
China-US trade war and Huawei, with
Malaysian Prime Minister Mahathir
Mohamad publicly voicing support
for China’s stance on many occasions,
said Bai.
Both China and Malaysia advocate
a free, multilateral trade mechanism,and are committed to creating a fairer,
more reasonable international political
and economic order, Bai said.
He told attendees that China wel-
comes exporters of Malaysian products
to explore opportunities in the Chinese
market.
China has been Malaysia’s top trad-
ing partner for the past 10 consecutive
years and Malaysia remains China’s
second-largest trading partner among
ASEAN members. Last year, bilateral
trade reached $77.72 billion, an in-
crease of 8.1 percent from 2017.
Calling for increased two-way busi-
ness, Bai said China is willing to have
talks with Malaysia concerning coop-
eration in the fi nancial, agriculture
and high-tech fi elds, and exploring the
potential for bilateral partnerships in
emerging industries including the digi-
tal economy and artifi cial intelligence
(AI), which could foster new growth
levers and power bilateral ties.
Delivering a speech on behalf of
the secretary-general of the Ministry
of International Trade and Industry in
Malaysia, John Patrick Antonysamy,seni
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Chinese Ambassador to Malaysia
Bai Tian speaks at the China-
Malaysia Forum on People-to-
People Exchange and Economic
Cooperation in Kuala Lumpur on
Monday. Photo: Li Qiaoyi/GT