Vast economic opportunities await Malaysia and China - Agong

Vast economic opportunities await to be explored and exploited by investors and entrepreneurs from Malaysia and China, said the Yang di-Pertuan Agong Tuanku Abdul Halim Mu'adzam Shah.

His Majesty said he was confident that Malaysian and Chinese business communities would continue to strengthen their ties and take advantage of economic opportunities created by both governments.

Speaking at a state banquet in honour of China's President Xi Jinping, who is on a state visit to Malaysia, at Istana Negara here on Friday night, the King said bilateral relations between the two countries had grown stronger with China becoming Malaysia's largest trading partner.

"Malaysia and China have always enjoyed close ties. The close relationship between the people of Malaysia and China is attributed to history, ethnic origin and cultural ties between the two countries.

"Our economy has grown in tandem and enhanced each other economic growth. Cooperation in the field of tourism, education, science and technology, and finance has expanded significantly," said the Yang di-Pertuan Agong.

Tuanku Abdul Halim was accompanied by the Raja Permaisuri Agong Tuanku Hajah Haminah while Xi was accompanied by his wife, Peng Liyuan.

Present were Prime Minister Datuk Seri Najib Tun Razak and his wife, Datin Seri Rosmah Mansor, and Deputy Prime Minister Tan Sri Muhyiddin Yassin and his wife, Puan Sri Norainee Abdul Rahman.

The Yang di-Pertuan Agong said the world today acknowledged the importance of China in regional and global affairs and its phenomenal economic success made it a great influence on global economy.

"China remains Asean's strong partner. It is very encouraging when China, under the leadership of His Excellency, strives to maintain good relations with countries in the region as reflected by your visit.

"Raja Permaisuri Agong and I are confident that close and mutually beneficial ties existing between China, under the stewardship of Your Excellency, and Malaysia will continue to be strengthened and broaden in years to come," said Tuanku Abdul Halim.

In his speech, Xi said China was ready to work with Malaysia for mutual benefit and common development.

"I believe that as long as both sides work together, our practical cooperation will bring greater benefits to our people and China-Malaysia relations will have a brighter future," he said.

He said next year would mark the 40th anniversary of China-Malaysia diplomatic ties and both countries were blessed with close cooperation and great common interest.

"Over the four decades, thanks to the concerted efforts of successive generations of leaders and the people of the two countries, our relationship has stood the test of time and the changing international landscape and demonstrated remarkable vitality.

"In the world of deepening globalisation and IT application, the destinies of China and Malaysia are getting increasingly interconnected. Our relationship is very important to both countries," he added.