Malaysian companies show strong confidence in CIIE, Chinese market: business leader

2023-11-06 Editor : Zhao Li ECNS App Download

(ECNS) -- Malaysian companies have shown great enthusiasm for participating in the 6th China International Import Expo (CIIE), reflecting their strong confidence in the expo and the Chinese market, a Malaysian business leader said.

The Associated Chinese Chamber of Commerce and Industry of Malaysia (ACCCIM) has sent around 200 repetitiveness, the largest delegation ever, to participate in the 6th CIIE, which kicked off in Shanghai on Sunday, according to Low Kian Chuan, president of the ACCCIM during an interview with China News Service.

Founded in 1921, the ACCCIM is the national-level organization of the Chinese chambers of commerce in the country with over 110,000 members.

Low Kian Chuan said that the ACCCIM has never been absent in CIIE since 2018, and the participation has always yielded fruitful returns, giving Malaysian companies great confidence. "Last year, there was a long queue in front of Malaysia's Musang King frozen durian booth, which fully demonstrates the market potential in China," he said.

According to statistics, the bilateral trade volume between China and Malaysia in 2022 reached $203.6 billion, a year-on-year increase of 15.3 percent. China has been Malaysia's largest trading partner for 14 consecutive years.

“China remains a crucial engine for global economic growth, demonstrating strong economic resilience,” Low said.

In his view, Malaysian businesses need to enhance their understanding of China to seize the opportunities in the Chinese market. He stated that China is currently actively promoting technological innovation, emphasizing environmental protection, and sustainable development, all of which present many development opportunities.

Furthermore, he believes that with the growth of China's middle class, there is a significant demand for health care, high-quality food and beverages, as well as tourism. These are areas where Malaysian businesses can focus in the future.

He is also optimistic about cross-border e-commerce in China, suggesting that Malaysia should strengthen its efforts in e-commerce and cross-border e-commerce to create new channels for more Malaysian products to enter the Chinese market.

Low introduced that at the CIIE, many Malaysian exhibitors can fluently converse with Chinese customers in Chinese, leaving Chinese customers not only surprised but also feeling a sense of warmth.

Low believes that CIIE is not just a trading platform but also a platform for the ACCCIM and Malaysian businesses to tell the Malaysian story, and help Malaysian companies enter the Chinese market.

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