KUALA LUMPUR (Feb 27): Malaysia's bilateral trade with China is expected to breach the US$100 billion mark this year, says Malaysia China Business Council (MCBC) chairman Tan Sri Ong Ka Ting.
 
"We are expecting this year's bilateral trade figure to improve, barring any unforeseen circumstances. We have very strong trade ties with China and (we see) more new areas of cooperation as seen in the exports of durian and bird's nests, which may add to the trade figure," he told reporters on the sidelines of the Malaysia-China Bilateral Cooperation Lunar New Year Luncheon here today.

Ong noted conventional bilateral collaborations are equally as important as exploring new areas of cooperation between two countries.

In 2017, bilateral trade between Malaysia and China totalled US$96.3 billion. 

"I hope that [the figure] will hit US$100 billion, if not more, this year," Ong added.

Ong said the optimism stems from the robust economic growth in Malaysia, which is expected to hold strong, moving forward. 

"The Malaysian economy is doing very well. It seems the momentum is picking up in the beginning of this quarter and I believe the momentum will continue," he said.

In line with the objective to enhance bilateral cooperation, Ong said MCBC will continue to work closely with the government, as well as the corporate sector of both countries.

MCBC is an advisory body which provides business information to Malaysian entrepreneurs in China and Chinese entrepreneurs in Malaysia, facilitating the coordination among government agencies, private enterprises and individuals for the overall benefit of the business communities of both nations.