About 150 Malaysian companies will take part in the China International Small and Medium Enterprises Fair as its co-organizer seeks expansion of economic and trade ties with China, according to the Consulate General of Malaysia in Guangzhou.
Chan Yik Sing, vice-trade consul of the Consulate General of Malaysia in Guangzhou, said Malaysian companies, mainly engaged in food industries and agricultural products are keen on taking part in the annual event as they are seeking more exports to the growing Chinese market.
“China’s ‘Belt and Road Initiative’ has provided huge opportunities for Malaysian companies, which are looking for more trade cooperation with Chinese counterparts,” said Chan.
Since 2009, China has become the largest trade partner of Malaysia, with bilateral trade value exceeding $100 billion in 2014, according to the vice-trade consul.
In the first half of the year China concluded about $50 billion in trade with Malaysia, Chan said.
China has introduced the initiatives of building a 21st Century Maritime Silk Road and a Silk Road Economic Belt to bring about closer ties with countries and regions along the Belt and Road.
Zhou Jian, director of the foreign economic cooperation department of the small- and medium-sized enterprises bureau of the Ministry of Industry and Information Technology, said organizers of the fair would introduce measures to encourage domestic companies to export and invest overseas.
“The fair will help boost exports amid the current downsizing trade environment,” said Zhou.
The fair, launched in 2004, will be held from Oct 10 to Nov 4 in Guangzhou, capital of Guangdong province.
Companies from more than 20 countries and regions have confirmed their participation in the event which will feature an exhibition area of 20,000 square meters.