KUALA LUMPUR: Malaysian businesses seek to unlock the huge potential and opportunities available at the Seventh China International Import Expo (CIIE), according to a Malaysian business leader.
To realise this, it will be especially important for businesses to identify and take advantage of emerging business trends, Ng Yih Pyng, president of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) told Xinhua in a recent exclusive interview.
“I am confident the CIIE will continue to unlock opportunities for Malaysian businesses...Some young entrepreneurs mentioned that their businesses are still small, with progress to make before entering the Chinese and international markets,“ Ng said.
“I told them the CIIE serves as a vital platform for trade and economic cooperation in China. By participating in the expo, companies can broaden their perspectives and enhance collaboration opportunities through engagement with exhibitors and global delegations,“ he explained, adding that the importance of the CIIE is underscored by the fact that the association has been a consistent participant at the expo.
“Since the inception of the China International Import Expo (CIIE), we never missed it during the past seven years,“ he said.
The seventh CIIE is being held in Shanghai from Nov 5 to 10. This year ACCCIM brought 18 companies with 31 booths featuring specialty products such as coffee, bird’s nest, and durian, with the delegation growing to nearly 250 individuals.
Ng also said the CIIE offers Malaysian companies direct access to Chinese buyers, bolstering brand visibility and fostering robust business networks, thereby deepening bilateral trade and economic ties in conjunction with the historic 50th anniversary of the establishment of diplomatic ties between the two countries.
Ng views the CIIE as a pivotal platform underscoring China’s commitment to high-level opening-up, with the Chinese market being indispensable for global enterprises: “In my view, no company can afford to overlook the Chinese market. With 1.4 billion people and immense purchasing power, China represents a substantial market for numerous Malaysian businesses,“ he said.
“This year marks the 50th anniversary of diplomatic relations between Malaysia and China, with Malaysia as one of guest countries of honour at the CIIE. We hope the expo will deepen economic ties, strengthen people-to-people connections, and promote sustained growth in bilateral relations,“ Ng said.
He also commended China’s pragmatic and efficient economic policies, particularly its emphasis on high-tech industries for economic upgrades, as well as measures to stimulate domestic consumption and tourism as engines of growth.
“Malaysia can look forward to greater opportunities for economic and investment collaboration with China in sectors such as electronics and electrical engineering, electric vehicles, renewable and green energy, healthcare, agriculture, and tourism,“ he added.
