China is the largesttrading partner of not only Malaysia but also ASEAN, he told the CGS China-ASEANBusiness Leaders Summit on March 9, adding that China and ASEAN, with theircombined population of over two billion, can shape the trajectory of the AsianCentury.
The Regional Comprehensive Economic Partnership (RCEP) is set tobe a strong enabler for this as trade between ASEAN and China recorded ayear-on-year increase of 15% in 2022, the first year that RCEP went intoeffect.
As the region rebuilds its economies from the ravages of theCOVID-19 pandemic, Tengku Zafrul said Malaysia, together with China and ASEAN memberstates, may also consider establishing multilateral cooperation partnershipswith other Belt and Road Initiative (BRI) participating countries.
This will help to facilitate the flow of goods, capital andservices, he said, adding that Malaysia is ready to support the BRI with itsskilled and multilingual talent pool./.