Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said on Thursday, following the signing of the Regional Comprehensive Economic Partnership last November, Malaysia should also take the opportunity to further strengthen bilateral trade with China as both are signatories to the world's largest free trade agreement,
“Malaysia may enhance as well as further streamline the foreign investment policy to facilitate business networks and strategic alliances between Malaysian companies, with China companies and state-owned enterprises, ” he said. It moved up the ranks to eighth place in 2000. A year later, it was Malaysia’s fourth largest trading partner, just behind Singapore, Japan and the US – with total trade of RM29.2bil and accounted for 4.7%.
However, in 2019, machinery & transport equipment were the highest contributor for exports and imports.
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