KUALA LUMPUR, Oct 12 (Bernama) — Malaysia External Trade Development Corporation (Matrade) expects total trade between Malaysia and China to increase to US$110 billion (US$1 = RM4.17) this year from US$102 billion last year.
Matrade Chief Executive Officer Datuk Dzulkifli Mahmud said the increase would be driven by a commitment made by both nations to increase two-way trade to US$160 billion by 2017.
“Despite the current economic challenges, China remains our important trading partner whereby during the first eight months of this year, our trade with China increased 9.6 per cent to RM147.55 billion.
“Our exports to China rose 9.3 per cent to RM65.17 billion while imports rose 9.8 per cent to RM82.18 billion,” he told a press conference after officiating the “Leveraging on Renminbi to Enhance Exports to China” seminar here Monday.
The half-day seminar was organised by Matrade as part of its effort to encourage local companies to use renminbi in their trade with China...Read More