Commerce leader: Malaysian businessmen to seek opportunities from China-ASEAN FTA

16:55, December 28, 2009      

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Malaysia's Associated Chinese Chambers of Commerce and Industry (ACCCIM) will explore opportunities in China following the full implementation of the China-ASEAN Free Trade Agreement (FTA).

Its Executive Adviser Soong Siew Hoong told Xinhua here on Monday that Malaysian businessmen should actively carry out pragmatic actions to find rooms for future development and expansion, while strengthening the business ties with China.

Soong said China and Malaysia had been enjoying close relationship with their bilateral trade increasing over years.

With the FTA coming into full force on Jan. 1, 2010, Soong said Malaysia's business community was advised to establish joint venture relations with their counterpart in China.

Bringing in experts from China to introduce new and high technologies in Malaysia was also a good idea, added Soong.

Soong said the ACCCIM had set up a few working groups to study the possibilities of importing green technologies, IT as well as other technologies pertaining to manufacturing, packaging and marketing from China.

While China was willing to share its expertise with Malaysia, Malaysians should never let go of the opportunities, stressed Soong, adding that Malaysians could pool experts in China together for future benefits.

On the challenges the FTA brought about, Soong said the trade tariffs had been reduced or eliminated gradually over the last few years and the transition period of the FTA's implementation was over.

Soong said it was now crucial for the small and medium enterprises to increase their competitiveness by integrating new technologies, offering competitive prices and quality goods, as well as delivering best services.

Moving forward, entrepreneurs from China and Malaysia could achieve a win-win situation if they were willing to cooperate, instead of looking at each other as a threat.

Source: Xinhua
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