A more extensive logistics network covering land and sea transport will strengthen trade relations between Malaysia and China, especially Chongqing.
Transport Minister Anthony Loke said Malaysia and China play an important role as logistics hubs for each other and other ASEAN countries.
He spoke to reporters after officiating the China (Chongqing)-Malaysia International Land-Sea Trade Regional Cooperation and Exchange Conference in Kuala Lumpur on Tuesday (Dec 19).
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Transport Minister Anthony Loke said Malaysia and China play an important role as logistics hubs for each other and other ASEAN countries.
He spoke to reporters after officiating the China (Chongqing)-Malaysia International Land-Sea Trade Regional Cooperation and Exchange Conference in Kuala Lumpur on Tuesday (Dec 19).
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
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NewsTranscript
00:00 Let's give a round of applause to congratulate the signing of the contract.
00:03 This is a dedication from Chongqing.
00:13 Chongqing is a very big city in China.
00:19 It is in the western part of China.
00:25 Chongqing has 32 million people.
00:30 The population is more or less the same as Malaysia.
00:34 They want to promote Chongqing as a logistics hub for Chinese inland areas.
00:45 They want to have a closer trade relationship with Malaysia
00:50 by using land and sea transport, maritime and land modes,
00:58 and their large railways in China, especially in Chongqing.
01:05 Chongqing is a hub that can connect dozens of cities in China.
01:13 This is a great opportunity for us to have a closer trade relationship with Malaysia
01:24 and to offer opportunities to Malaysian companies to export our products to China and Chongqing.
01:34 On the other hand, Chinese products will also be exported to our markets.
01:40 I see this as a great opportunity for Malaysian companies.
01:46 I spoke to the Mayor of Chongqing earlier.
01:55 He said that they are very interested in not only durian, but also Malaysian oil.
02:03 This oil can be used as an edible oil, which is widely used in Chinese food, especially in Chongqing.
02:12 The food in Chongqing is spicy, so they use a lot of this edible oil.
02:20 So the demand for this oil from Malaysia is very high.
02:24 They invited me here today to ensure that this trade relationship can be supported
02:33 by a better transport system, especially through railways and our ports.
02:41 So if we follow the railways, we are also building our railway relationship,
02:49 by transporting goods and cargo from Malaysia to Laos.
02:56 If we can reach Laos, we can reach China, because Laos and China are bordering.
03:03 So from Malaysia, from the port of Lang, we can reach Laos through Thailand.
03:10 So this is a project that KTMB is working on, and we hope that more people will join us in this sector.
03:19 Any other questions?
03:21 The hotpot you were saying, using a lot of palm oil, the red palm oil,
03:26 do you know how much it can cook?
03:30 I'm not sure, but Chongqing has a population of 32 million.
03:34 So 32 million population is as big as Malaysia.
03:39 This was conveyed to me by the deputy mayor of Chongqing.
03:43 They said because of health reasons, they are looking at edible oils from palm oil.
03:49 So that's why the demand for palm oil from Malaysia is increasing.
03:54 And they want to trade more with Malaysia and buy more palm oils from Malaysia.
03:57 This is a welcome news for us, and they want to utilise our transport network,
04:05 rail plus maritime, so that goods can be traded between the two countries,
04:13 and between the two regions, faster.
04:16 And most important is that the logistics must be well equipped.
04:21 Chongqing is a logistics centre in the western part of China,
04:25 and as I mentioned, Malaysia is an important logistics hub as well for ASEAN,
04:31 and we intend to have more trading between Malaysia and China,
04:36 and especially with Chongqing, because that is, I think,
04:41 still for a lot of Malaysian companies, an untapped market yet.
04:45 Because most of the trade between Malaysia and China,
04:49 probably focusing in the coastal part of China,
04:53 more with Guangzhou, Shanghai, Beijing, in the coastal part of China.
04:57 So this is another important region in China, in the western part of China,
05:02 where 50% of the population of China are actually in that region.
05:06 So we are talking about 700 million population.
05:09 So if we can have more products from Malaysia going into that part of China,
05:15 I'm sure this will open up a very important market.
05:18 And we have to fully utilise our logistic strength to support our trade,
05:23 to support our exports to the western part of China.
05:27 Will it be in Renminbi?
05:30 I think that one I will leave it to Mithi to talk about, it's not my portfolio.
05:37 But I'm sure Malaysia and China have a very, very close relationship,
05:41 and I think trading in Renminbi is one of the areas that we are looking at.
05:47 Thank you.
05:48 Thank you.
05:50 [END]
05:53 [BLANK_AUDIO]