The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has been urged to capitalise on opportunities to expand business and investment in China.

Prime Minister Datuk Seri Najib Razak said likewise, ACCCIM should encourage its Chinese partners to explore business and investment opportunities in Malaysia.

He said Malaysia, being strategically located and selected the Chair of Asean next year, has multi-lingual and business-minded people.

"Our institutions are strong and respected. Malaysia is an economy on the move, a trading gateway to Asean that also offers opportunities in its own right," he said at ACCCIM's 68th anniversary dinner here Wednesday night.

The dinner was also held to mark the 40th anniversary of the Malaysia-China diplomatic relations.

Calling on ACCCIM and business leaders to work hand in hand with the government to attract more investments from China, he said, "Based on past experience, I know you are invaluable allies as we seek to realise our bilateral trade ambitions."

Najib said bilateral trade between Malaysia and China would hit US$160 billion by the end of the Five-Year Programme for Economic and Trade Cooperation signed by both countries in October last year.

The programme, signed during President Xi Jinping's state visit to Malaysia, covers many sectors, ranging from agriculture to energy, logistics and retail.

"The rapid growth of Malaysia-China economic relations would not have been possible without hard work by our private sector," he said.

Najib commended ACCCIM for being appointed to jointly organise the Guest Country of Honour Malaysia Pavilion at the 18th China International Fair for Investment and Trade in Xiamen this year.

The fair is an influential event as it provides a platform for Malaysian companies to export their products and services overseas, he added.

Present was ACCCIM President Datuk Lim Kok Cheong.