| Last updated at: (Beijing Time) Friday, November 16, 2001 |
Malaysia Sees More Business Opportunities With China |
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Malaysia sees more opportunities in attracting more investors from China following its accession into the World Trade Organization (WTO), a senior Malaysian official said Thursday in Kuala Lumpur.
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Malaysia sees more opportunities in attracting more investors from China following its accession into the World Trade Organization (WTO), a senior Malaysian official said Thursday in Kuala Lumpur.
"We would like to encourage more investors from China to come to Malaysia as we are the second largest investor from ASEAN in China after Singapore," Deputy Minister of International Trade and Industry Kerk Choo Ting told reporters here after he met a Chinesetrade delegation led by Vice Minister of Foreign Trade and Economic Cooperation Zhang Xiang.
On the benefits to Malaysia from China's accession to the WTO, Kerk said one possible area is an increase in China's import quota for palm oil.
For the first year, China's import quota of palm oil will go up to 1.5 million tons, and the figure will steadily increase to 3.168 million tons in the fifth year, according to Kerk.
On the same occasion, Zhang Xiang said China would look for cooperation in the science and technology, manufacturing, tourism, hi-technology products, oil and gas, and services sectors with Malaysia.
"As Malaysia has expertise in manufacturing and in the oil and gas industry, we hope that these would benefit our country, too," he said.
Between January and June this year, Malaysia invested in 88 projects worth 142 million U.S. dollars in China. Last year Malaysia's total investment in China amounted to 389 million U.S. dollars, while China's total investment in the Southeast country amounted to some 10 million dollars.
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