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Exclusive | Mahathir’s Malaysia still ‘open for business’ with China despite stalled rail link: top trade official Dr Ong Kian Ming
- Upheaval over Beijing-financed projects such as the ECRL has not affected bilateral trade, says deputy minister of international trade and industry
- Dr Ong Kian Ming prefers to view economic ties in terms of the countries’ total trade volume, which reached a record high of US$108.6 billion in 2018
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Malaysia’s protracted negotiations over China-financed mega projects such as the multibillion-dollar East Coast Rail Link (ECRL) have not dampened trade between the two countries, and it is still hungry for business from China, according to its deputy minister of international trade and industry.
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Dr Ong Kian Ming also said Prime Minister Mahathir Mohamad’s recent decision to attend the second official summit on China’s Belt and Road Initiative in April – making him the first world leader to confirm his presence – showed Kuala Lumpur’s continued commitment towards this “very important relationship”.
“[We can expect] more opportunities to expand our trading and investment relationship with China, and this will continue to set the tone that Malaysia is very welcoming of investments from China,” he said.
“If this can be reciprocated by the Chinese government, it would give confidence to Chinese investors that despite the change in government we are still very open for business and we still want to attract good quality Chinese investment to come to Malaysia.”
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Ong, who is in Hong Kong to attend The Economist’s Asia Trade Summit, said bilateral trade ties should be viewed in the context of total trade volume between the two countries, which reached a record high of US$108.6 billion last year.
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