PETALING JAYA: Total trade with China between January and November last year increased by 27.2% compared with the corresponding period in 2020, says Foreign Minister Datuk Saifuddin Abdullah.
He said this amounted to RM378.95bil in total trade from January to November 2021 compared with RM329.77bil during the same timeframe in 2020.
“Total exports also saw an increase by 19.7% to RM171.99bil whereas our total imports expanded by as much as 34.2% equivalent to RM206.96bil,” he added via a virtual call at the Malaysia-China Chamber of Commerce (MCCC) Lunar New Year celebrations held at the Kuala Lumpur and Selangor Chinese Assembly Hall yesterday.
At the same event, MCCC president Datuk Tan Yew Sing said the implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP) and Comprehensive and Progressive Trans-Pacific Partnership (CPTP), coupled with the Belt and Road Initiative, came at an opportune time.
“Currently the global economy is facing many uncertainties enroute to recovery. The implementation of the above initiatives in turn help drive the revitalisation of both the national and global economy from the impact of the pandemic.”
Tan added that the aforementioned cooperative regional developments would allow both Malaysia and China to carry out an effective cooperative relationship.