Malaysia-Shaanxi Province Trade To Hit US$400 Mln This Year

KUALA LUMPUR, March 29 (Bernama) -- Malaysia's Ministry of International Trade and Industry hopes the country's trade with China's Shaanxi province will reach US$400 million (US$1 = RM4.41) this year from US$257.5 million in 2016. Second International Trade and Industry Minister, Ong Ka Chuan, said the ministry, which had set an export target of US$500 million next year, would ramp up promotional activities in the province. Ong said small and medium enterprises (SMEs) should use the e-commerce platform via the Digital Free-Trade Zone (DFTZ) to tap the vast Chinese market. "To-date, they buy a lot of electronic components from us. There are lots of potentials for the export of white coffee and halal products," he told reporters after meeting Shaanxi province's Governor, Hu Heping, here Wednesday. Ong said stronger Malaysia-Shaanxi trade ties would help strengthen overall trade ties the country had with China. "In order to do that, we have to open up new area for trade. With the DFTZ and with Alibaba Group coming in, a lot of our SMEs can go to China through Alibaba platform," he said. In 2016, Malaysia's trade with China rose by 4.4 per cent to RM240.91 billion. Ong said the Malaysian consulate office in Shaanxi would help facilitate trade between the country and the province, which also housed 200,000 Muslim population. "The consulate office will be our representative to set up the linkages and the cooperation between us for trade," he said. -- BERNAMA