KUALA LUMPUR: The government is hopeful that the signing of a new deal on the East Coast Rail Link (ECRL) project will lead to higher exports to China.
Deputy International Trade and Industry Minister Dr Ong Kian Ming said now that the revised ECRL agreement had been inked, the government was looking to China to buy more Malaysian products.
He said discussions were already under way for the world’s second largest economy to import more palm oil and related products.
“This issue is likely to be brought up when Prime Minister Tun Dr Mahathir Mohamad is on his working visit there next week,“ Ong told reporters after delivering a keynote address at a Belt and Road Forum today.
Mahathir will be in Beijing to attend a Belt and Road Initiative meeting. However, he will not be accompanied by any businessmen on this trip.
China is now one of the top trading partners of Malaysia.
Ong said the government would still welcome investments from China for infrastructure projects. He said these investments would be on a joint-venture basis.
“There will be no special treatment for any company or country,“ he said.
“Our main objective is to ensure that any investment in the country is transparent and it benefits the people,“ he added.
Ong said the prime minister would also be given the opportunity on this trip to visit some iconic Chinese companies to see how they apply and use the latest technology.
“We hope that sometime in the future, such technology can also be used here to improve the lives of the people,“ he added.