KUALA LUMPUR, Nov. 2 (Xinhua) -- Malaysia's trade promotion agency said Friday that the country is eyeing the upcoming first China International Import Expo (CIIE) to promote Malaysian export to China as well as markets along the routes of the Belt and Road Initiative.
Proposed by China in 2013, the Belt and Road initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of Silk Road.
The Malaysia External Trade Development Corporation (MATRADE) said it has coordinated the participation of 80 Malaysian companies at the event. Malaysian International Trade and Industry Minister Darell Leiking will be leading the Malaysian mission.
The agency has identified the CIIE, which takes place on Nov. 5-10 in Shanghai, as an ideal platform to assist Malaysian companies to promote their brands to China as well as to the countries along the Belt and Road routes.
At the expo, it will be championing Malaysian high value sectors, in particular high intelligence equipment and services.
"Malaysia can take advantage of the opportunities available from the Belt and Road Initiative which main objective is to promote unimpeded trade," MATRADE CEO Mohd Shahreen Madros said in a statement.
As China is Malaysia's largest trading partner since 2009, he said, Malaysia needs to ramp up efforts in facilitating Malaysian companies' access to the market so its trade with China will remain competitive.
Last year, Malaysia's total trade with China went up 20.7 percent year-on-year from 2016. For the first eight months, Malaysia's trade with China further expanded by 9.6 percent. Its exports to China rose 11 percent, driven by growth in electrical and electronics products, chemicals and chemical products, manufactures of metal as well as optical and scientific equipment, according to MATRADE.
