Unlocking Opportunities at the Seventh China International Import Expo
Malaysian Businesses Eye Huge Potential at CIIE
Kuala Lumpur: Malaysian businesses seek to unlock the huge potential and opportunities available at the Seventh China International Import Expo (CIIE), according to a Malaysian business leader.
Identifying Emerging Trends
To realise this, it will be especially important for businesses to identify and take advantage of emerging business trends, Ng Yih Pyng, president of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) told Xinhua in a recent exclusive interview.
Unlocking Opportunities for Malaysian Businesses
"I am confident the CIIE will continue to unlock opportunities for Malaysian businesses…Some young entrepreneurs mentioned that their businesses are still small, with progress to make before entering the Chinese and international markets," Ng said.
The CIIE as a Vital Platform
"I told them the CIIE serves as a vital platform for trade and economic cooperation in China. By participating in the expo, companies can broaden their perspectives and enhance collaboration opportunities through engagement with exhibitors and global delegations," he explained, adding that the importance of the CIIE is underscored by the fact that the association has been a consistent participant at the expo.
ACCCIM’s Participation in CIIE
Since the inception of the China International Import Expo (CIIE), we never missed it during the past seven years," he said. The seventh CIIE is being held in Shanghai from Nov 5 to 10. This year ACCCIM brought 18 companies with 31 booths featuring specialty products such as coffee, bird’s nest, and durian, with the delegation growing to nearly 250 individuals.
Direct Access to Chinese Buyers
Ng also said the CIIE offers Malaysian companies direct access to Chinese buyers, bolstering brand visibility and fostering robust business networks, thereby deepening bilateral trade and economic ties in conjunction with the historic 50th anniversary of the establishment of diplomatic ties between the two countries.
China’s Emphasis on High-Level Opening-Up
Ng views the CIIE as a pivotal platform underscoring China’s commitment to high-level opening-up, with the Chinese market being indispensable for global enterprises: "In my view, no company can afford to overlook the Chinese market. With 1.4 billion people and immense purchasing power, China represents a substantial market for numerous Malaysian businesses," he said.
Fostering Economic Ties and Growth
"This year marks the 50th anniversary of diplomatic relations between Malaysia and China, with Malaysia as one of guest countries of honour at the CIIE. We hope the expo will deepen economic ties, strengthen people-to-people connections, and promote sustained growth in bilateral relations," Ng said.
Opportunities for Malaysian Businesses
Malaysia can look forward to greater opportunities for economic and investment collaboration with China in sectors such as electronics and electrical engineering, electric vehicles, renewable and green energy, healthcare, agriculture, and tourism, he added.
Conclusion
In conclusion, the CIIE provides a valuable platform for Malaysian businesses to tap into the vast opportunities available in the Chinese market. With China’s commitment to high-level opening-up and its emphasis on high-tech industries, there has never been a better time for Malaysian businesses to explore the potential of the Chinese market.
FAQs
Q: What is the significance of the CIIE for Malaysian businesses?
A: The CIIE is a vital platform for trade and economic cooperation in China, offering Malaysian businesses direct access to Chinese buyers and opportunities for brand visibility and business networking.
Q: What are the key sectors for economic and investment collaboration between Malaysia and China?
A: Sectors such as electronics and electrical engineering, electric vehicles, renewable and green energy, healthcare, agriculture, and tourism are key areas for cooperation between Malaysia and China.
Q: What is the significance of the 50th anniversary of diplomatic ties between Malaysia and China?
A: The 50th anniversary of diplomatic ties between Malaysia and China marks an important milestone in bilateral relations, with the CIIE providing a platform to deepen economic ties, strengthen people-to-people connections, and promote sustained growth in bilateral relations.