Partnership expands: Reezal (seventh from left) and Ouyang (eight from left) Merican with participants of the sixth Malaysia-China B2B Business Matching Session during its launch in Kuala Lumpur. — FAIHAN GHANI/The Star
KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) has renewed a memorandum of understanding (MOU) with the China Construction Bank Malaysia Berhad (CCBM) that aims to benefit businesses in both countries.
Matrade chairman Datuk Seri Reezal Merican Naina Merican said the renewed MOU also strengthens Matrade’s long-standing partnership with CCBM, which began in 2018.
“This renewed agreement will help Malaysian exporters access new markets and secure better financing.
“China Construction Bank’s (CCB) extensive network in China will facilitate key business connections and provide tailored financial solutions to Malaysian exporters,” said Reezal during his opening remarks at Menara CCB yesterday.
He stressed that strong financial support is crucial for business success, especially in today’s economic climate and that Matrade’s close collaboration with CCB will promote financing facilities to Malaysian companies.
The MOU renewal ceremony was held during the launch of the sixth Malaysia-China B2B Business Matching Session which was jointly organised by Matrade, CCBM, the China-ASEAN Expo (CAEXPO) secretariat and the Chinese Embassy in Malaysia
The Malaysia-China B2B Business Matching Session was simultaneously launched in Kuala Lumpur, Nanning and Beijing.
The Kuala Lumpur launch was attended by China ambassador to Malaysia Ouyang Yujing and various business leaders.
The two-day Malaysia-China B2B Business Matching Session featured over 291 enterprises comprising 116 Malaysian and 175 Chinese companies, participating in 403 business meetings through CCB’s “Match Plus” platform.
The business matching session last year had facilitated 140 business transactions totalling US$1.68bil, Reezal said.
“This year, expectations are high as we aim to build on this success and further strengthen bilateral trade,” he added.
The business-matching session is also an important prelude to the upcoming 21st CAEXPO in Nanning, China, which will take place from Sept 24-28.
This year’s CAEXPO is particularly significant as it coincides with the 50th anniversary of diplomatic relations between Malaysia and China.
At this year’s event, Malaysia has been named as the “Country of Honour” and will be provided with a larger exhibition centre.
“This expanded space of 3,240 sq m will allow more Malaysian companies to showcase their offerings,” said Reezal.
Matrade will be joined by 10 ministries and government agencies, along with three trade associations and 137 Malaysian companies at the expo.
“These include the Agriculture and Food Security Ministry, the state governments of Selangor and Perak, the Durian Manufacturers Association and the Federation of Malaysian Freight Forwarders.
“Their participation underscores a broad and collaborative effort to showcase Malaysia’s diverse industries,” said Reezal.
Malaysia is ranked as China’s 10th largest global trading partner and the second largest within Asean.
In the first seven months of 2024, trade between the two countries grew by 9.5% to RM275.8bil, with electrical and electronic products driving 34.5% of Malaysia’s exports.
Imports from China rose 18.7%, largely supporting Malaysia’s manufacturing sector.
