Lee Chee Leong: China is a strategic partner for Malaysia

Malaysia expects to expand its maritime economic cooperation with China after the two countries signed an agreement to develop a twin port project in Qinzhou city in China’s Guangxi Zhuang autonomous region and the Malaysian port city of Kuantan.

The project is aimed at extending the existing cooperation in the sister industrial parks in the two cities which have been under construction since 2011.

The two sides will cooperate in various fields, including shared shipping lanes, logistics, information exchange and professional training, according to officials of the two countries.

Lee Chee Leong, Malaysian deputy minister of International Trade and Industry, said the agreement is an important component of Malaysia’s economic cooperation with China, as the country is aiming to boost two-way trade with China to $160 billion by 2017.

He made the comments before the opening of the China-ASEAN (Association of Southeast Asian Nations) Expo, known as CAEXPO, which opened on Tuesday and will conclude on Friday.

"The expo is a government-to-government event that helps extend bilateral and multilateral trade and economic cooperation," Lee said.

"Many business deals are expected to take place during the expo, which will definitely boost trade," he added.

Malaysia is China's top trading partner among ASEAN countries with bilateral trade reaching $106 billion in 2013, according to the minister.

The expo will serve as an effective platform to promote exports between China and ASEAN countries and will provide useful information on the Chinese market to foreign investors, the minister said.

"For Malaysia, China is a strategic partner not only in trade but also in the investment field and the tourism industry," he said.

Lee said the ASEAN region has become an increasingly attractive market for China as the region has a population of 550 million people with a combined GDP of $ 5.6 trillion.

"Chinese companies seeking to expand their activities in the ASEAN region can leverage Malaysia's strategic position and business linkages and networks in the region," he said.