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BRI spurs sustainable growth across Asia

2019-09-25 12:31:29 China Daily

Chinese enterprises explore business chances at events in Malaysia, Brunei


Malaysia supports the Belt and Road Initiative, or BRI, as a means to better promote sustainable development throughout Asia and to help bring the region closer together, said a Malaysian minister last week.

"Malaysia is one of the countries that has benefited from the China-led BRI," said Malaysia's Minister of Works Baru Bian, noting China is also the country's biggest trading partner.

Chinese President Xi Jinping proposed the BRI in 2013, with the goal of connecting China with Asia, Europe and Africa via land-and sea-based infrastructure development.

In the first half of 2019, the total trade in goods between China and Malaysia was valued at $35.4 billion, accounting for 16.6 percent of Malaysia's overall external trade, said Baru.

Baru was speaking at the Malaysia-China Investment Promotion 2019 held in Kuala Lumpur on Friday.

The promotional event was part of a series of activities of the China Mainland-Macao Joint Investment Promotion Mission to Brunei, Malaysia and Japan, led by China International Contractors Association (CHINCA) and the Macao Trade and Investment Promotion Institute (IPIM).

During the mission's first stop in Brunei during Sept 17-18, business matching and other activities were held to connect industry leaders from China and Brunei.

The Kuala Lumpur event was jointly organized by CHINCA, IPIM and the Master Builders Association Malaysia (MBAM). The aim was to help improve cooperation between China and Malaysia in infrastructure and construction, as well as to promote talent and knowledge exchange.

CHINCA Chairman Fang Qiuchen said Malaysia is not only an important supporting country in the BRI, but also a key destination of the initiative's sea route-the 21st Century Maritime Silk Road.

"With the development of closer cooperation and deeper political trust between China and Malaysia, more Chinese enterprises will take part in the investment and construction of Malaysia's infrastructure sector," said Fang.

Established in 1988, CHINCA has more than 1,500 members that operate in more than 190 countries and regions in various fields, ranging from transportation, electricity to construction and telecommunication.