KUALA LUMPUR, Dec. 19 (Xinhua) -- The best is yet to come for the economic cooperation between Malaysia and China as bilateral trade and investment continues to grow, Malaysian Finance Minister Lim Guan Eng said Wednesday.
Malaysia's approved foreign direct investment (FDI) in the manufacturing sector surged 250 percent year-on-year in the first nine months of 2018, with China as the largest source, said Lim at the annual dinner of the Chinese Enterprises Association in Malaysia.
Meanwhile, data showed that Malaysia's bilateral trade with China, its largest trading partner since 2009, continues to expand with growth in export outpacing import, said Lim, adding that he believes China will buy more from Malaysia, especially palm oil.
The minister spoke positively on the healthy development and the spirit of taking root in Malaysia by the Chinese companies, as they brought in investment and created jobs for the local economy over the years.
"The Malaysian government reaffirms our commitment to building on the existing close ties with China and will work to maintain friendly relations," Lim said, adding that his country will continue to support and actively participate in the Belt and Road Initiative.
Highlighting the recent cooperation between the two sides, including the launch of the first car jointly developed by Malaysian national car manufacturer Proton and China's Geely, Lim said "we believe that the best is yet to come."
For her part, Shi Ziming, economic and commercial counsellor of Chinese embassy in Malaysia, said both countries enjoy solid foundation of cooperation and common concept of development.
"More and more Chinese enterprises have regarded Malaysia as a hot destination of overseas investment and have achieved mutually beneficial and fruitful results," she said.
Founded in 2002, the Chinese Enterprises Association in Malaysia now has some 120 member companies operating in finance, engineering, telecommunications, logistics, tourism, education among others.
Wang Hongwei, president of the association and chief executive of Bank of China Malaysia, said not only has the association witnessed the great development of China-Malaysia relations, but also played pivotal role in the partnership over the years.
The association will continue to serve as a bridge for entrepreneurs in both countries and to promote bilateral cooperation, he said.
