M'SIA, HONG KONG INK JOINT DECLARATION TO ENHANCE ECONOMIC COOPERATION

KUALA LUMPUR, Dec 2 (Bernama) -- Malaysia and the Government of the Hong
Kong Special Administrative Region of the People's Republic of China have
signed a joint declaration to strengthen economic cooperation.

The declaration inked with Hong Kong, Malaysia's eighth largest trading
partner, is expected to further enhance bilateral trade and investment ties.

This include the prospect of signing a free trade agreement in future, said
International Trade and Industry Ministry in a statement today.

Malaysia-Hong Kong two-way trade since 1990 had rose sharply, with
Malaysia's total trade with Hong Kong last year was worth RM41.9 billion.

Trade with Hong Kong is in Malaysia's favour, with RM14.7 billion trade
surplus, the ministry said.

In investment term, Hong Kong's investments in Malaysia's manufacturing
sector rose to RM81.2 million last year from RM59.8 million in 2007.

Major investment areas are in electrical and electronic products, wood
and wood products, chemicals and chemical products and machinery and equipment.

MITI said the joint declaration had provisions to provide technical
assistance and capacity-building in areas of cooperation such as trading in
goods and services, science and technology, particularly in information and
communications technology, creative and digital entertainment industry.

Other areas are biotechnology, industrial science and technology,
development of small and medium enterprises, tourism and collaborations in
furthering business opportunities in other markets. (US$1=RM3.38)
-- BERNAMA