SHAH ALAM (June 18): The Five-Year Programme for Economic and Trade Cooperation between China and Malaysia is expected to be signed soon during the inaugural visit of Chinese Premier Li Qiang to the country, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said both countries had agreed to implement the second cycle of the Malaysia-China Five-Year Programme for Economic and Trade Cooperation that would further deepen linkages between industries in priority sectors like high-level manufacturing and the digital economy.

Zafrul noted that the programme would also deepen cooperations in robotics, entrepreneur development, innovation and start-ups, as well as research and development in agriculture and primary industries.

In addition to economic and trade cooperation, he said two government-to-government memoranda of understanding (MOUs) are expected to be signed during the visit, including an MOU on strengthening investment cooperation in the digital economy, as well as an MOU on promoting investment cooperation in green development.

“These MOUs will set forth the direction for companies from Malaysia and China on investment and business opportunities in various sectors,” he said during the launch of Chery Malaysia's assembly plant here on Tuesday.

Li will embark on a three-day official visit to Malaysia from Tuesday, marking his first visit here as the Chinese premier, in conjunction with the 50th anniversary of diplomatic relations between the two countries.

“For Malaysia, the 50th anniversary is not just a celebration of a milestone, but a pivotal point to chart the future of our economic cooperation that focuses on national and regional development,” Zafrul said.

Under the economic pillar, he pointed out that around 60 programmes will be held either in Malaysia or China, led by various government agencies, the business community and think tanks.

Programmes to be organised by the Ministry of Investment, Trade and Industry (Miti) include Invest Malaysia in September, and the Malaysia-China Summit in December.

Zafrul also said trade and investment relations between the two countries had deepened since 2009, and trade with China made up 17.1% of Malaysia’s global trade, valued at US$98.80 billion (RM450.84 billion).

From 1980 to 2023, 497 manufacturing projects with participation from China, valued at US$18.5 billion, were implemented, creating more than 82,000 job opportunities for Malaysians, the minister added.

On Chery Malaysia, he said the Chinese automobile manufacturer last year pledged an investment of RM1 billion, which supports Malaysia’s New Industrial Master Plan 2030, underscores Chery’s confidence in the country’s policies, and fosters growth within the automotive sector.