 |
| Najib (2nd left) and Xi (4th right) heading for more talks in the Malaysia-China Economic Summit in Kuala Lumpur today. - Reuters pic, October 4, 2013 |
Malaysia and China are set to achieve a total bilateral trade of US$160 billion by 2017, says Prime Minister Datuk Seri Najib Tun Razak.
During a closed-door meeting with China's President Xi Jinping at his office today, both leaders also discussed a five-year programme for economic and trade cooperation and agreed to elevate the current cooperation between both countries into a comprehensive strategic partnership.
The Prime Minister said China also expressed keen interest to participate in Malaysia's high-speed rail project, China-Malaysia Qinzhou Industrial Park and the Malaysia-China Kuantan Industrial Park.
"We also discussed greater cooperation in financial services. We’d like to see more trade between the countries settled in the Renminbi and Ringgit.
"Information should also be disseminated to the private sectors of both countries. We also agreed that financial institutions in Malaysia and China should assume a greater role in both countries," he said at a joint press conference with Xi after the meeting.
Xi and his 100-member delegation arrived in Malaysia yesterday for a three-day state visit.
Both leaders are expected to attend the Malaysia-China Economic Summit, later today, aimed at promoting and enhancing business-to-business linkages and collaboration between Malaysia and China.
