Its senior director of export promotion and market access division Amran Yem said the bilateral trade relationship between Malaysia and China is progressing well with total trade between the two countries in 2022 at almost RM500 billion, an increase of 15.6% compared to 2021.

“Malaysia’s exports surpassed the RM200 billion mark for the first time, expanding by 9.4% to RM211 billion and were the highest value ever recorded.

“Similarly, imports recorded almost RM300 billion with 20.7% growth,” he said in his speech at the 5th Malaysia-China business-to-business (B2B) business matching in conjunction with the 20th China-Asean Expo (CAEXPO) 2023 today.

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

“Since 2004, Malaysia’s participation in CAEXPO successfully assisted more than 2,000 companies with accumulated business dealings amounting to over US$1 billion (RM4.67 billion),” he noted.

Many Malaysian brands have made their presence and strengthened their footprints in the Chinese market through their participation in CAEXPO.

“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 range of high-value products and services.

Prime Minister Anwar Ibrahim will be attending the CAEXPO 2023 on Sept 17 in Nanning, China to further strengthen ties between the two countries and build on preparations for the 50th anniversary of the Malaysia-China relationship next year.