Ong Chong Yi, Minister Counsellor of Malaysian Embassy in China, addresses the forum. Photographed by Luo Yunfei

Chengmai, 24 Jan ChinaNews (reporter: Guang Xiangdong and Zhang Xiyi)-“With the development of technology and the shift of times, high technology should be incorporated in collectively building 21st Century Maritime Silk Road, e.g. developing efficient logistics and achieving quick clearance with high-end logistic and port facilities, decreasing trade cost and raising trade efficiency with e-commerce platform, etc.” said Ong Chong Yi, Minister Counsellor of Malaysian Embassy in China in “One Belt One Road” World Chinese Press Economy Forum on 24 January.

Ong Chong Yi said Sino-Malaysian bilateral ties have been rapidly developed, widened and enriched in terms of politics, economy, trade and civil interaction. In spite of uncertainties in world economic growth, the trade volume between China and Malaysia reached 102 billion US dollars in 2014, which makes Malaysia the largest trade partner of China in ASEAN countries for consecutive years. In terms of investment, companies from both countries have shifted from traditional manufacturing to high value-added and capital intensive industries. One of the good examples is that a Malaysian company invested RMB 15 billion yuan in Seawater Desalination and Integrated Utilisation Project in Tianjin.

He said, when Chinese President Xi Jinping visited Malaysia in October 2013, both counties signed the Five-Year Plan of Sino-Malaysian Economic Cooperation which focuses on 11 key areas, including infrastructure, logistics, industrial park, tourism, etc. The project being undertaken are the infrastructure construction and marketing for Qinzhou Industrial Park and Guandan Industrial Park, port expansion in Weifang, Shangdong Province conducted by MalaysiaSime Darby Group and Guandan sea terminal construction, 40% of which is owned by China Beibuwan International Port Group. Upon the completion of Guandan Port, it will become Malaysia's largest harbor on the east coast facing South China Sea. All these projects coincide with building 21st Century New Maritime Silk Road proposed by Chinese leader. 

Ong Chong Yi said,as far as regional economy is concerned, Malaysia actively pushes forward ASEAN Economic Community and is one of the proposers of China-ASEAN Free Trade Zone. Since the overall implementation of China-ASEAN Free Trade Zone, China-ASEAN trade volume increased remarkably. In 2014 China-ASEAN trade volume reached 480.4 billion US dollars, 8.3% rise on year-on-year basis and 64% more than the trade volume of 292.7 billion US dollars in 2010. This proves that the Free Trade Zone of 1.9 billion population has become the driving force for the sustainable development of companies. In addition, China also propels regional economic integration. The building of “One Belt and One Road”, Asian Infrastructure Investment Bank and upgraded China-ASEAN Free Trade Zone will provide new golden opportunities for companies'development. 

“Speaking of Silk Road, the Strait of Malacca was one of the busiest business harbors of the world in 15th century and played an important part in international trade.” Said Ong Chong Yi. After 6 centuries, the Strait of Malacca is still a busy international waterway today. However the commodities have changed from raw materials e.g. silk, china, pepper, perfume to high-tech and value-added products i.e. electronic devices, electric appliances, petrochemical products, palm oil products, etc. 

He said the year 2014 was the 40th anniversary of the establishment of Sino-Malaysian diplomatic relationship.Malaysian leaders including the Supreme Head of the State and Prime Minister received reception of the highest courtesy when visiting China. Malaysia was honorably selected as the guest of honor of the 18th Xiamen Fair for Investment and Trade. This year, ASEAN's rotating presidency passed to Malaysia who will continue playing an active role in promoting the cooperation between China and ASEAN countries.(End)

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