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China not threat to any nation: Malaysian PM
KUALA LUMPUR, Nov. 2 (Xinhua) -- Malaysia does not view China's position as a global economic power as a threat to any nation, Malaysian Prime Minister Najib Razak said on Tuesday.
"We see it as an opportunity for many countries," said Najib, whose speech was delivered by his deputy Muhyiddin Yassin at the Second World Chinese Economic Forum near here.
Najib stressed that China is an important trading partner for the ASEAN, and the China-ASEAN Free Trade Agreement that came into full effect this year had vastly expanded bilateral trade and investments.
Importantly, China's growing imports from ASEAN had helped mitigate the effects of the recent global financial crisis on ASEAN countries, Najib added.
"China's rising consumption is benefiting the countries of Southeast Asia, as it increases its purchases from the region. In addition to its role as an economic powerhouse, China has become a key global power with a leadership role to play in the world community," said Najib.
Najib said that the rise of China over the last two decades had brought overwhelmingly positive developments to the Southeast Asian region, and Malaysia has done well in tapping investments and technological transfers from China.
The prime minister also said that China remained largely unaffected by the global financial crisis that hit the most exposed economies, and China's strength and future prospects boded well for countries with large Chinese populations from the Chinese diasporas.
"The 'go-out' policy, which encourages Chinese companies to invest abroad, has helped develop our economic ties through investments in many industries and will hopefully lead to further investment opportunities for Malaysia and Chinese firms in the future," said Najib.
Pointing out the fact China and Malaysia are embarking on economic transformations, Najib said that he believed that as both nations could push forward with the economic development strategies, there is room for closer cooperation and mutual exchange.
"For example, Chinese businesses can participate directly in Malaysia's Economic Transformation Program. We have identified investment projects in 12 National Key Economic Areas that require 444 billion U.S. dollars worth of private sector investment in the next 10 years," said Najib.
Najib noted that China's recent approval of Malaysia as a destination for Chinese portfolio funds through the China Qualified Domestic Investor Status would generate larger inflows of Chinese investments into Malaysia.
This, as described by Najib, is only one of the several avenues where an increased Chinese participation in the Malaysian economy is seen.
According to Najib, the bilateral trade between China and Malaysia exceeded 53 billion U.S. dollars in 2009, and Malaysia has become China's largest trading partner among ASEAN countries.
Themed "China and the West, Studying Together for a New Economic Significance", the two-day forum aims at exploring the new growth corridor linking China, the Middle East, ASEAN and India, dubbed the New Silk Road by Najib.
The forum also saw the participation of Chinese business groups, scholars and delegates from 33 countries and regions, including Southeast Asia, Europe, India, Australia and the United States.
KUALA LUMPUR, Nov. 2 (Xinhua) -- Malaysia does not view China's position as a global economic power as a threat to any nation, Malaysian Prime Minister Najib Razak said on Tuesday.
"We see it as an opportunity for many countries," said Najib, whose speech was delivered by his deputy Muhyiddin Yassin at the Second World Chinese Economic Forum near here.
Najib stressed that China is an important trading partner for the ASEAN, and the China-ASEAN Free Trade Agreement that came into full effect this year had vastly expanded bilateral trade and investments.
Importantly, China's growing imports from ASEAN had helped mitigate the effects of the recent global financial crisis on ASEAN countries, Najib added.
"China's rising consumption is benefiting the countries of Southeast Asia, as it increases its purchases from the region. In addition to its role as an economic powerhouse, China has become a key global power with a leadership role to play in the world community," said Najib.
Najib said that the rise of China over the last two decades had brought overwhelmingly positive developments to the Southeast Asian region, and Malaysia has done well in tapping investments and technological transfers from China.
The prime minister also said that China remained largely unaffected by the global financial crisis that hit the most exposed economies, and China's strength and future prospects boded well for countries with large Chinese populations from the Chinese diasporas.
"The 'go-out' policy, which encourages Chinese companies to invest abroad, has helped develop our economic ties through investments in many industries and will hopefully lead to further investment opportunities for Malaysia and Chinese firms in the future," said Najib.
Pointing out the fact China and Malaysia are embarking on economic transformations, Najib said that he believed that as both nations could push forward with the economic development strategies, there is room for closer cooperation and mutual exchange.
"For example, Chinese businesses can participate directly in Malaysia's Economic Transformation Program. We have identified investment projects in 12 National Key Economic Areas that require 444 billion U.S. dollars worth of private sector investment in the next 10 years," said Najib.
Najib noted that China's recent approval of Malaysia as a destination for Chinese portfolio funds through the China Qualified Domestic Investor Status would generate larger inflows of Chinese investments into Malaysia.
This, as described by Najib, is only one of the several avenues where an increased Chinese participation in the Malaysian economy is seen.
According to Najib, the bilateral trade between China and Malaysia exceeded 53 billion U.S. dollars in 2009, and Malaysia has become China's largest trading partner among ASEAN countries.
Themed "China and the West, Studying Together for a New Economic Significance", the two-day forum aims at exploring the new growth corridor linking China, the Middle East, ASEAN and India, dubbed the New Silk Road by Najib.
The forum also saw the participation of Chinese business groups, scholars and delegates from 33 countries and regions, including Southeast Asia, Europe, India, Australia and the United States.
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