50 Years of China-Malaysia Ties Celebrated with New Trade Agreements

Chongqing—To celebrate the 50th anniversary of diplomatic relations between China and Malaysia, the China (Chongqing)-Malaysia Enterprises Economic and Trade Matchmaking Meeting was successfully held in Kuala Lumpur on September 25.

China (Chongqing)-Malaysia Enterprises Economic and Trade Matchmaking Meeting was held in Kuala Lumpur, Malaysia. (Photo/Chongqing Municipal Commission of Commerce)

The event attracted over 80 Malaysian enterprises, business associations, and representatives from Chongqing, creating a vibrant atmosphere of collaboration and opportunity.

Malaysian participants showed strong interest in Chongqing's strategic location, industries, and open business environment. Entrepreneurs from both sides held in-depth discussions, resulting in over 20 companies from sectors like agricultural fertilizers, food processing, and specialty foods reaching agreements for further cooperation.

The event coincided with the 7th Malaysia International Agricultural Science and Technology Exhibition (Agri Malaysia 2024), held from September 26 to 28, Malaysia's premier B2B agricultural showcase. This platform highlighted innovative agricultural products and practices, drawing a significant audience.

To boost Chongqing's agricultural exports, the Chongqing Municipal Commission of Commerce organized over ten local companies to showcase products such as spices, halal food, Chongqing noodles, sour plum drinks, and premium agricultural fertilizers like potassium phosphate. The Chongqing exhibitors received an enthusiastic response, with nearly 13,000 buyers attending the exhibition and around 100 customers expressing initial interest in the products.

Chongqing exhibits a variety of products at Agri Malaysia 2024. (Photo/Chongqing Municipal Commission of Commerce)

China has been Malaysia's largest trading partner for 15 consecutive years and remains a significant source of investment. Economic ties between Chongqing and Malaysia have strengthened in recent years. 

From January to August 2024, bilateral trade between Chongqing and Malaysia totaled 13.74 billion yuan (about USD 1.96 billion), an 11.8% increase compared to the previous year.

Chongqing representatives also met with key business associations, including the Malaysia-China Chamber of Commerce, Enest Group Berhad, and Shenfeng International Group. Enest Group Berhad, a Malaysia-based investment holding company, specializes in processing and selling edible bird nests.

The discussions focused on leveraging the New International Land-Sea Trade Corridor (ILSTC) to strengthen trade between Malaysia, Southeast Asia, and China and on exploring opportunities to access markets in Central Asia and Central and Eastern Europe.

Both sides agreed to collaborate on developing a Southeast Asia (Malaysia) commodity distribution center in Chongqing. This center is expected to become a hub connecting China's inland regions to broader international markets. Malaysian enterprises were interested in visiting Chongqing to attend the Western China International Fair for Investment and Trade, enhance digital trade efforts, and explore cross-border e-commerce and digital talent development opportunities.

By the end of the event, more than ten cooperation agreements were reached, signaling the start of a promising new chapter in the economic and trade relations between Chongqing and Malaysia.