ID :
16019
Sat, 08/16/2008 - 08:38
Auther :
Shortlink :
http://m.oananews.org//node/16019
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GUANGDONG-M'SIA TRADE EXPECTED TO REACH US$55 BLN THIS YEAR
KUALA LUMPUR, Aug 16 (Bernama) -- Bilateral trade between Guangdong and Malaysia is expected to reach about US$55 billion this year despite the challenging economic situation.
Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president William Cheng Heng Jem said the target was based on the bilateral trade between Guangdong and Malaysia which increased 26.5 percentin the first half of this year.
"Last year, bilateral trade between Guangdong and Malaysia was about US$46.4 billion. Normally, Guangdong commands about 25 percent of the total trade between China and Malaysia," he said a press conference here Friday on the2008 China (Guangdong)-Malaysia Business Conference.
To be held on Sept 12, the conference is organised by ACCCIM together with the Economic and Commercial Counsellor's office of the Embassy of China in Malaysia and the Department of Foreign Trade and Economic Cooperation ofGuangdong.
Cheng said the aim is to promote and encourage Guangdong enterprises to invest in Malaysia, adding the conference is expected to attract about 700delegates representing 200 enterprises as well as government officials.
"This conference is set to perform an important function to furtherstrengthen the economic and trade ties between Guangdong and Malaysia," he said.
Cheng urged Malaysian enterprises to tap on the opportunities in Guandong as there are potential in many areas, including manufacturing, services andtourism.
Guangdong is considered one of the most important processing manufacturingand export bases in China, he said.
It has nine pillar industries, comprising electronic information, electric appliances and machinery, petrochemical, automobile, pharmaceutical, paper making, textile and garments, food and beverage and constructionmaterial.
Asked whether the local political scenario has dampened the Chinese investment appetite, Cheng said: "Based on the participation, it is proven that the Chinese investors are still confident with Malaysia's economic strength." He also said that the government should take effective measures to control inflation in the upcoming budget on Aug 29 and to encourage both local andforeign investors to continue investing in Malaysia.
Among the measures proposed to reduce inflationary pressures are allowing trucks to carry more tonnage in order to reduce the transport cost andencouraging people to shift their electricity use to off-peak hours.
With the oil price now at US$113.36 per barrel, Cheng said the government should review the petrol and diesel prices to ease the burden on manufacturersand exporters.
-- BERNAMA
Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president William Cheng Heng Jem said the target was based on the bilateral trade between Guangdong and Malaysia which increased 26.5 percentin the first half of this year.
"Last year, bilateral trade between Guangdong and Malaysia was about US$46.4 billion. Normally, Guangdong commands about 25 percent of the total trade between China and Malaysia," he said a press conference here Friday on the2008 China (Guangdong)-Malaysia Business Conference.
To be held on Sept 12, the conference is organised by ACCCIM together with the Economic and Commercial Counsellor's office of the Embassy of China in Malaysia and the Department of Foreign Trade and Economic Cooperation ofGuangdong.
Cheng said the aim is to promote and encourage Guangdong enterprises to invest in Malaysia, adding the conference is expected to attract about 700delegates representing 200 enterprises as well as government officials.
"This conference is set to perform an important function to furtherstrengthen the economic and trade ties between Guangdong and Malaysia," he said.
Cheng urged Malaysian enterprises to tap on the opportunities in Guandong as there are potential in many areas, including manufacturing, services andtourism.
Guangdong is considered one of the most important processing manufacturingand export bases in China, he said.
It has nine pillar industries, comprising electronic information, electric appliances and machinery, petrochemical, automobile, pharmaceutical, paper making, textile and garments, food and beverage and constructionmaterial.
Asked whether the local political scenario has dampened the Chinese investment appetite, Cheng said: "Based on the participation, it is proven that the Chinese investors are still confident with Malaysia's economic strength." He also said that the government should take effective measures to control inflation in the upcoming budget on Aug 29 and to encourage both local andforeign investors to continue investing in Malaysia.
Among the measures proposed to reduce inflationary pressures are allowing trucks to carry more tonnage in order to reduce the transport cost andencouraging people to shift their electricity use to off-peak hours.
With the oil price now at US$113.36 per barrel, Cheng said the government should review the petrol and diesel prices to ease the burden on manufacturersand exporters.
-- BERNAMA
