The Malaysia-China Chamber of Commerce expects bilateral trade between Malaysia and China this year to exceed US$100 billion.
“Based on the 2011 bilateral trade between Malaysia and China that was worth US$90.3 billion, we expect it to surpass the US$100 billion mark this year,” said its Secretary-General, Youth President and General Affairs Chairman, Joseph Lim.
“Malaysia and China are currently going through what we call ‘honeymoon’ years, and relations now are at their best ever.
“Most of our consumer products and even services are imported from China,” he told a press conference on the Malaysia-China Entrepreneur Conference (MCEC) here today.
On the other hand, Lim said, Malaysia exports a lot of electronic parts and natural resources such as petroleum, palm oil, rubber and timber to China.
“We also found out that it is much cheaper to set up a factory in Malaysia than in China.
“Based on our latest figures, the labour cost in China has increased. In Guangdong you have to pay 3,000 yuan whereas in Malaysia we pay less than 1,000 yuan.
“This shows that the production cost in Malaysia is much lower than in China,” he added.
To further strengthen this positive development, the Chamber and TNT Express Malaysia have invited three speakers from China to share their success with budding entrepreneurs in Malaysia at the MCEC on Sept 8.
“All of our speakers are carefully selected to share what we believe will be most beneficial to our participants, apart from providing them an ideal avenue for networking and business matching.
“Currently around 800 participants have already signed up, including from overseas and China.
“We also have considered 30 projects for the business matching sessions,” he added.