US$160 Bln Trade Target With China Achievable, Says Minister Ong Ka Chuan

KUALA LUMPUR, May 27 (Bernama) -- A total trade target of US$160 billion between China and Malaysia by 2017 is achievable, says Malaysian International Trade and Industry Minister II, Ong Ka Chuan. He said Malaysia should emulate China and venture into the manufacture of robotics and electric vehicles, with low carbon emission, to reach the target. Speaking at the one-day China-Malaysia Economic and Trade Cooperation Conference, Ong said Malaysia remained China's largest trading partner in ASEAN with bilateral trade totalling US$97 billion in 2015. He said China with a population of 1.3 billion had lot of areas that needed to be developed. "China wants to relocate some of their factories to other countries and we hope Malaysia can become the window for China in their supply chain. "We are also looking at opening some free trade zones and industrial parks with China, so that they are able to relocate some of their factories to Malaysia and provide jobs in the process," he added. Ong said Malaysia had an advantage as it had signed numerous free trade agreements including the Trans-Pacific Partnership Agreement (TPPA) with other countries and ASEAN. -- BERNAMA