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333942
Tue, 07/01/2014 - 11:37
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Malaysia-China Relations Continue To Strengthen Amid Various Incidents - Deputy Minister Of Int'l Trade

KUALA LUMPUR, July 1 (Bernama) -- The relations between Malaysia and China continue to strengthen, especially in trade, despite the occurence of various incidents recently, the Dewan Rakyat (Lower House of Parliament) was told Tuesday. The Deputy Minister of International Trade and Industry, Hamim Samuri said the relations between the two countries would continue to strengthen following various joint programmes. "These include the Five Year Programme for Economic and Trade Cooperation (signed on October 5 last year for 2013-2017), which is a strong establishment in making the country as China's biggest trade partner among Asean countries," he said in reply to a supplementary question from Senator Abdul Rahman Bakar. Abdul Rahman wanted to know the impact on the Malaysia-China bilateral relations following the disappearance of Flight MH370 and the kidnapping of a Chinese national in Sabah. "Hence, incidences such as the disappearance of Flight MH370 and the kidnapping of a Chinese tourist in Sabah do not affect the relations that has been established. "However, we still monitor any trade situation as a consequence of those events," he said. Answering the original question from Abdul Rahman on the development of the bilateral relations with China, Korea and Japan in the economy and trade balance, Hamim said China is Malaysia's main trading partner, with trade reaching US$63.4 billion (RM203.3 billion) last year. "While Japan and Korea are Malaysia's third and seventh biggest trading partners with trade value of US$42.44 billion (RM136.1 billion) and US$17.74 billion (RM56.9 billion) respectively. (US$1 = RM3.20) The percentage of trade between Malaysia and the three countries is 28.9 per cent out of Malaysia's total trade value globally," he said. He said the country's export value had increased by 9.2 per cent to RM96.9 billion for China, and three per cent for Korea at RM26.13 billion in 2013 compared with the previous years. Nevertheless, Hamim said the country's export to Japan declined by 4.4 per cent to RM79.75 billion due to the decrease in demand for 2013 compared with the previous years. He said from 2009 to 2013, Malaysia recorded trade surplus with China and Japan at RM23.5 billion and RM56.7 billion, respectively. "While a trade deficit of RM5 billion was recorded with Korea as the import value exceeded export which occured in 2010 and 2013," he added. -- BERNAMA

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