Strong ties with China benefit Malaysian entrepreneurs – Liow

KUALA LUMPUR: The strong bilateral ties between Malaysia and China have benefited local entrepreneurs and the business community, said MCA President, Datuk Seri Liow Tiong Lai.

Liow, who is also Transport Minister, said the ties had also resulted in China opening up its big market for Malaysian entrepreneurs to tap into.

“Our entrepreneurs will have a chance to use our channels and good bilateral ties to invest in China and trade with China.

“It’s good for all Malaysians. All entrepreneurs and businessmen will benefit from this cooperation,” he told reporters after launching the MCA Belt and Road 2.0 at Wisma MCA here yesterday.

Citing the Digital Free Trade Zone, Liow said, he was confident the collaborations with China’s Alibaba would further strengthen sales of local products.

Earlier, at the launch of the Belt and Road 2.0, which was also attended by China’s Ambassador Bai Tian, Liow said economic and trade ties between China and Malaysia were now at historical peak, with bilateral trade amounted to RM264.5 billion in the first 11 months of 2017.

Liow said that since the Belt and Road Initiative was proposed in 2013, bilateral trade between China and Malaysia has reached RM1.45 trillion from 2013 to November 2017, an increase of 52.4 per cent from RM751.1 billion five years ago before its proposal.

“Trade relations between Malaysia and China are two ways, bilateral investments between Malaysia and China are mutually-beneficial,” he said, refuting allegations that Malaysia was selling its sovereign to China.

“The good ties cannot be bought with money nor can they be created with money.

“Money cannot buy our feelings towards China. Neither can money buy over China’s trust towards us,” he said, adding that only through cooperation with each other and ensuring a peaceful coexistence with each other that a win-win situation could be achieved.

MCA Belt and Road 2.0 action plan aims to encourage more Malaysian entrepreneurs to partake in the Belt and Road Initiative.

The five strategies to be spearheaded under the MCA Belt and Road Centre are business transformation and young start-ups, SME Go Global, trade and investment platform, Belt and Road Policy Coordination platform and education and training.