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Showing posts with label Malaysia-China Trade. Show all posts
Showing posts with label Malaysia-China Trade. Show all posts

Thursday, December 21, 2023

Look East Policy now includes China




All smiles: Anwar taking pictures with Malaysians at an event in Imperial hotel in Tokyo. — Photo taken from Anwar’s Facebook page

KUALA LUMPUR: Malaysia, which has long looked to Japan and South Korea as models for economic development, is now also interested in learning from China, says Prime Minister Datuk Seri Anwar Ibrahim.

“We need to be open to revise any policy that has been in place for 40 years,” he told Asahi Shimbun in an interview in Tokyo on Sunday.

He was referring to the Look East Policy that fourth prime minister Tun (then Datuk Seri) Dr Mahathir Mohamad introduced in 1982 to learn economic modernisation strategies primarily from Japan and South Korea.

“I wouldn’t say ‘East’ (in this policy) means Japan and South Korea minus China. Now, when we say ‘Look East,’ it’s East (including China),” he was quoted as saying by the Japanese newspaper, according to Bernama.

Anwar added that because digital technologies, cybersecurity and other issues are changing the world, Malaysia needs to expand on the decades-old policy while continuing its aspects that remain beneficial.

The Prime Minister was on a five-day working visit to Tokyo from Dec 15 to attend a summit celebrating the 50th anniversary of the friendship and cooperation between Japan and Asean.

Malaysia, he said, advocates a “fiercely independent” foreign policy, and the country will deal with China depending on Malaysia’s interests.

He said when he was in the United States recently (for Asia-Pacific Economic Cooperation 2023), he was asked why Malaysia was tilting towards China.

He replied: “Because they’re investing more.”

But Anwar said Malaysia will firmly negotiate with China over territorial disputes in the South China Sea and not allow any unilateral action by Beijing.

The Prime Minister also described Japan as a “very important strategic partner”, adding that Malaysia’s relationship with Japan should be expanded under the Look East Policy such as sharing the Japanese work ethic and its technologies.

According to Asahi Shimbun, Japan announced on Dec 16 that it will provide equipment for warning and surveillance activities worth JPY400mil (RM13mil), including rescue boats and drones, to the Malaysian military under the official security assistance programme.

Anwar emphasised that the defence equipment is designed to help Malaysia protect its territorial waters and does not include any submarines or large aircraft.

“The assistance is mainly for our own security needs, not for offensive or aggressive means,” it quoted Anwar as saying.

Meanwhile, Anwar attended a high-tea event with the Malaysian diaspora at the Imperial Hotel in Tokyo on Monday.

There were 416 attendees ranging from students to those working and residing in Japan.

Also present at the event were Foreign Affairs Minister Datuk Seri Mohamad Hasan and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Anwar spoke about the need for Malaysians to change their mindset and free themselves from the racial and religious divisions that undermine unity.

To a concern from a postgraduate student that their salaries are not commensurate with their qualifications when they return home, Anwar said the government is also looking into ways to improve wages for all.

Another student voiced concern that students sent to Japan are opting to remain and work there after completing their studies.

Anwar replied that they are encouraged to work overseas, especially when they can learn the Japanese work culture, but should return and contribute to their country when the time comes.

Prior to the event, Anwar and his wife Datuk Seri Dr Wan Azizah Wan Ismail were at the Imperial Palace where they had an audience with Emperor Naruhito and Empress Masako



KUALA LUMPUR: Malaysia’s Look East Policy with the inclusion of China is a wise and necessary move given the latter’s rapid economic rise, says the Federation of Chinese Associations Malaysia (Huazong).

“The time has come for us to fine-tune and further expand,” said its president Tan Sri Goh Tian Chuan.

The same policy with Japan as the role model was first introduced by former prime minister Tun Dr Mahathir Mohamad in 1982 – 41 years ago.

Goh said with China’s rapid economic growth over the past decades that saw it overtaking Japan as the world’s second largest economy, it is timely for Prime Minister Datuk Seri Anwar Ibrahim to include China in Malaysia’s Look East Policy.

“This is especially appropriate, as China overtook Japan as the world’s second largest economy 13 years ago with the United States remaining the largest economy.

“So, for any nation to ignore China’s economic prowess will be unwise diplomatically and economically,” he told Bernama yesterday.

Malaysia and China will celebrate the 50th anniversary of diplomatic relations next year.

With Malaysia being the first Asean nation to establish diplomatic ties with China in 1974, Goh emphasised that it is an opportunity for Anwar to moot the idea.

He noted that Anwar has conducted two official visits to China and successfully brought in a host of advanced Chinese technologies and financially strong investors to set up operations and collaborate with Malaysian businesses, since he became the Prime Minister in November last year.

“I strongly believe that with a strong and stable strategic partnership in Anwar’s era, diplomatic relations between Malaysia and China will be at its peak,” he added.

Goh said more Chinese are expected to invest in Malaysia following the positive shift in the present government’s stance towards Chinese investments, coupled with closer bilateral ties under his leadership.

Malaysia-China bilateral trade hit a record high of US$203.6bil (RM948.38bil) in 2022.

For the first nine months of 2023, trade with China was recorded at RM410.01bil, with exports at RM174.55bil, mainly comprising shipments of electronics and electrical products, palm oil and palm oil-based agriculture products as well as iron and steel products.

He said Malaysia could boost its collaboration with China in the field of advanced technologies, such as aerospace, automotive, high-speed rail, artificial intelligence, drone technology, e-commerce, logistics and packaging as well as environmental technologies.

“Other sectors that are worth collaborating include higher education, human resources, culture and tourism, which will ultimately boost bilateral trade and social relations between Malaysia and China,” he added.

 
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Friday, September 8, 2023

Malaysia needs to learn from China to leapfrog its economy - Miti

ysia's Economy | Bizworld, 6 September 2023;


 

China's Huawei Defeats US Sanctions with Breakthrough in Chips 


Deputy Investment, Trade and Industry Minister Liew Chin Tong


KUALA LUMPUR: Malaysia needs to learn from China to leapfrog its economy, particularly in terms of technology innovations and manufacturing.

The Ministry of Investment, Trade and Industry (MITI) said that despite the slowdown in China’s economy affected by the property development and construction sectors, the country’s manufacturing and technology sectors are still doing very well.

"Leapfrogging means that you do not continue to produce at the same level. You must try to upgrade technologically to produce by adopting automation as well as making digital arrangement.

"We must do things differently and win the game at a higher level with higher wages, higher productivity and higher growth,” Deputy Investment, Trade and Industry Minister Liew Chin Tong told reporters after launching the 5th Malaysia-China business to business (B2B) business matching in conjunction with the 20th China-Asean Expo (CAEXPO) 2023 here today.

He noted that the Madani Economy framework and the New Industrial Master Plan launched recently by Prime Minister Datuk Seri Anwar Ibrahim are both also aimed to leapfrog Malaysia’s economy.

On CAEXPO 2023, he shared that Anwar will be attending the exposition on Sept 17 in Nanning, China, and the visit sought to strengthen ties between the two countries as well as to build on and be prepared for the 50th anniversary of Malaysia-China relationship.

Meanwhile, Malaysia External Trade Development Corporation (MATRADE) senior director of export promotion and market access division, Amran Yem, in his speech, said Malaysia and China's friendly relationship is not only preserving but also propelling the trajectory of strong and dynamic economic links between the two countries.

"Currently, the bilateral trade relationship between Malaysia and China has been progressing well with total trade between our two countries in 2022 at almost RM500 billion, an increase of 15.6 per cent when compared to 2021.

"Malaysia’s exports surpassed the RM200 billion mark for the first time, expanding by 9.4 per cent to RM211 billion and were the highest value ever recorded. Similarly, imports recorded almost RM300 billion with 20.7 per cent growth,” he said.

After experiencing three years of border closure, this year marks the 20th anniversary of the CAEXPO and so does Malaysia’s participation.

Since 2004, Malaysia’s participation in CAEXPO had successfully assisted more than 2,000 companies with accumulated business dealing amounting to over US$1 billion, he noted.

Many Malaysian brands had made their presence and even strengthened their footprints in the Chinese market through their participation in CAEXPO and these outcomes signified the exposition as an important platform for Malaysian companies to make further inroads into the huge Chinese market and this relevance continues, he pointed out.

For this year’s CAEXPO, he said, MATRADE is coordinating a total of 107 Malaysian enterprises that will be showcasing their diverse range of high value products and services, including healthcare and wellness, pharmaceuticals, cosmetics and toiletries, palm oil as biomass, functional food and beverages as well as the services sectors including accounting, interior design and education.

"As for the B2B meetings this year, it was organised using the hybrid mode with the virtual business meeting session beginning today until Sept 8, 2023.

"The physical business meetings will be held from Sept 16 to 19 as a follow up. It is expected that more than 200 business meetings will be held for both physical and virtual sessions,” he added. - Bernama

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