Malaysia hopes to increase exports to China

24 Jun 2019 / 19:11 H.

KUALA LUMPUR: Malaysia hopes to increase exports to China now that problems surrounding several projects undertaken by Chinese companies in Malaysia are being resolved.

For a start, Finance Minister Lim Guan Eng said, Malaysia feels confident that China will buy more palm oil from Malaysia. “We also expect China to buy more of other items such as durians and electronics,“ he said at a luncheon to mark the 45th anniversary of the establishment of diplomatic relations between the two countries today.

“I hope that when I visit China next month, you will have some good news for us (on the purchase of palm oil),“ he quipped.

Raja Datuk Nushirwan Zainal Abidin, the deputy secretary of bilateral affairs at the Foreign Ministry, later told theSun at the sidelines of the event that there has already been an increase in the usage of palm oil in China, opening bigger opportunities for producers of the commodity in Malaysia.

“To my knowledge, they are buying less soya bean oil or they are mixing it with palm oil, so there is real opportunity for us there,“ he said.

Nushirwan expressed confidence both parties will agree on the compensation for the Multi-Product Pipeline and Trans-Sabah Gas Pipeline soon.

Malaysia has claimed that 88% of the RM9.39 billion cost of the projects has been paid when only 13% of the work has been completed.

In his speech earlier, Lim also touched on the ongoing trade war between China and the United States.

Reiterating that such disputes will only hamper international trade, he expressed hope that a solution based on mutual respect and benefits for all parties will be found soon.

Lim pointed out that every nation should respect international law. “If you talk about the rule of law, you must show leadership by example,“ he said.

“You can’t talk about the rule of law or free and fair trade, and yet you break the same principles you preach,“ he said.

“You must respect these values and norms, and there should be no bullying.” he added.

email blast