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Malaysia boosts access to Chinese market via China-ASEAN FTA

With upgrades to the China-ASEAN Free Trade Area (CAFTA), Malaysia is confident it will have greater access to the Chinese market.
Hanoi (VNA) – With upgrades to the China-ASEANFree Trade Area (CAFTA), Malaysia is confident it will have greater access tothe Chinese market.

Malaysian Agriculture and Agro-based Minister SalahuddinAyub predicted that trade between Malaysia and China will grow, especially inagriculture, Xinhua News Agency reported.

Malaysia welcomed efforts to increase exports of Malaysianagricultural products to China, benefiting both sides in a win-win situation, theofficial said.

He added that strong trade bonds with China will boostMalaysia's income and create jobs in the country.

The Malaysian government's special envoy to China Tan KokWai said the upgrade is a positive development as ASEAN has surpassed the US tobecome China's second biggest trade partner.

The amount of Malaysian tropical fruits such as durianexported to China has increased since China opened its market to the produce inJune. Durian exports to China are expected to contribute nearly 500 millionringgit (120 million USD) to the nation's total export value annually.

The Malaysian government is also expecting to boost shipmentsof other goods to China, including palm oil, petrochemical products, manufacturedgoods and agricultural products.

The CAFTA upgrade protocol officially signed on November 22,2015, took effect in July 2016. The pact have enabled tropical fruits such asmangosteen and durian from ASEAN member states to enter the Chinese market, andallowed China's temperate fruits to access the ASEAN market./.
VNA
# China-ASEAN Free Trade Area#CAFTA#Salahuddin Ayub#Malaysia#China#Xinhua#exports of Malaysian agricultural products to China#Tan Kok Wai#ASEAN market#Vietnam news agency#vietnamplus
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