KUALA LUMPUR: Malaysia’s strategic location and strong digital ecosystem have enabled it to work closely with China on the “Cyber Silk Road”, said Malaysia-China Business Council (MCBC) chairman Tan Sri Ong Ka Ting.
He said Malaysia’s potential as seen through the introduction of a Digital Free Trade Zone had lured key players from China – Huawei, Alibaba and Tencent – to expand their presence here.
“The Government has been focusing on enhancing digital economy cooperation with China,” Ong said.
“It is well reflected in the appointment of Alibaba Group’s Jack Ma as the adviser on digital economy during Datuk Seri Najib Tun Razak’s visit to China last year.”
Ong, who is also the Prime Minister’s special envoy to China, was speaking at the 14th annual joint business council meeting here between MCBC and China Council for the Promotion of International Trade (CCPIT), a national foreign trade and investment promotion agency under China’s State Council.
Malaysia is represented in the meeting by Malaysia External Trade Development Corporation, Malaysian Investment Development Authority, Malacca’s State Economic Planning Unit, East Coast Economic Region Development Council, InvestKL and Associated Chinese Chambers of Commerce and Industry of Malaysia, while the 100-strong delegation from China is led by CCPIT chairman Jiang Zengwei.
At the meeting, MCBC and CCPIT exchanged an agreement on cooperation to expand their areas of collaboration.
It was an upgraded version of the first agreement signed in 2002 to reflect developments in the bilateral relationship, including the Belt and Road initiative.
The legal system was also emphasised in the agreement, paving the way for a memorandum of cooperation on Malaysia-China Commercial Laws to strengthen understanding of the commercial law systems of both countries.
MCBC legal and tax resource centre head Datuk Quek Ngee Meng said the collaboration aimed at tackling the legal problems faced by businessmen from both countries that have long been a headache, including matters on tax and import duties.
Source: The Star, 21 March 2017