Chinese, Malaysian companies deepen cooperation under RCEP framework

Aerial photo taken on Oct. 6, 2020 shows a view of the China-Malaysia Qinzhou Industrial Park in Qinzhou, south China's Guangxi Zhuang Autonomous Region. (Xinhua/Zhou Hua)

Chinese and Malaysian companies have signed investment or strategic cooperation agreements on 11 projects involving cross-border logistics, industries and trade in Nanning, capital of south China's Guangxi Zhuang Autonomous Region.

The deals on enhanced bilateral cooperation were signed on Tuesday at the Malaysia-China (Guangxi) Investment Forum and celebrations of the 10th anniversary of the "Two Countries, Twin Parks" initiative between China and Malaysia.

Sheng Qiuping, assistant minister at the Ministry of Commerce, said China stands ready to work with Malaysia to implement the Regional Comprehensive Economic Partnership (RCEP) and promote regional economic recovery.

Lim Ban Hong, Malaysia's deputy minister of International Trade and Industry, said that enterprises of both countries should make good use of the "Two Countries, Twin Parks" platform and exploit the huge dividends of the RCEP.

Within the context of "Two Countries, Twin Parks" between China and Malaysia, two industrial parks were launched in April 2012. The construction area of the China-Malaysia Qinzhou Industrial Park has expanded to 25 square km, and more than 200 projects have settled there, with a total investment surpassing 190 billion yuan (about 28.97 billion U.S. dollars).

The 9-square-km Malaysia-China Kuantan Industrial Park has attracted a total investment of over 40 billion yuan for contracted projects and has created nearly 20,000 local jobs. ■