Tuesday, February 25, 2020

Way clear for setup of Malaysia Silk Road Business Council

Mar 27. 2017
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ONG KA TING, MCBC chairman and Malaysia Prime Minister’s special envoy to China, said all directors of the council have agreed to set up the Malaysia Silk Road Business Council.

He said this in his speech made at the meeting of the MCBC 2017 held recently.

He said on behalf of Malaysia, MCBC was the first to sign a memorandum of understanding on the joint setup of the Silk Road Business Council during a roundtable discussion on the Silk Road International Business Association organised by CCPIT and the People’s Government of Shaanxi province on May 14 of last year.

Following that, a Malaysia council was set up as the sole official representative of Malaysia to the Silk Road Business Council. 

An official award ceremony was held for the Malaysia Silk Road Business Council today. 

Ong said many heavyweight corporate figures in Malaysia have been invited as advisers to participate and lead in One Belt One Road.

He said the digital economy has huge potential for development. 

The leaders of three digital economy giants – Huawei, Ali Baba and Tencent – are positive on the prospects of the digital free trade zone of Malaysia and are willing to invest in manpower and resources.

He said a seamless Cyber Silk Road has been shaped. 

MCBC will collaborate and coordinate with the key players of digital businesses to promote Malaysia-China trade for further development.

The Malaysia-China Bilateral Business Council was set up in 2002 as the highest joint business council under the two governments. 

CCPIT chairman Jiang Zengwei leads a high-level mission comprising more than 100 corporate leaders to attend the annual meeting of MCBC.

MCBC has also arranged for more than 100 delegates from government agencies and business circles to participate. 

They include Malaysia External Trade Development Corporation, Malaysian Investment Development Authority, Malacca state economic planning unit, Development Council of East Coast Economic Region, InvestKL and Associated Chinese Chamber of Commerce and Industry Malaysia, whose president Ter Leong Yap attends with more than 20 representatives.

A collaborative agreement was also signed by CCPIT and MCBC today during the meeting.

Ong said with the upgrade of and further collaboration between Malaysia and China on bilateral ties in trade as well as the implementation of Malaysia-China comprehensive strategic partnership ties and the development of One Belt One Road, both MCBC and CCPIT are of the view that a new collaboration agreement is necessary to upgrade the collaboration of both sides.

MCBC and CCPIT also signed a memorandum of understanding on the setting up of the China-Malaysia Business Law Collaboration Committee. 

Guo Yi Ming, tax and legal resources centre head of MCBC, and Liu Chao, vice chief of the legal department under CCPIT, signed on behalf of the two parties.

Ong said the memorandum aimed to enhance the collaboration mechanism of business law for both sides to promote non-confrontational solutions for the business disputes of both sides.

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