News Content

Malaysia-China Chamber of Commerce not put out by China trade rivalry

CHINA'S well-promoted "One-belt, One-road" regional economic initiative has triggered tension among Malaysian groups in the China trade.

Over the past several months, at least four new local organisations were set up with objectives to do business with China and to tap into one belt opportunities.

Malaysia-China Belt-Road Chamber of Commerce, set up three months ago and headed by former MCA president Tan Sri Ong Tee Keat, is one such non-governmental organisation.

The other is Asean-China Chamber, which was set up last September by Hua Zong's former president Tan Sri Lim Gait Tong, reported the Malaysia Star.

The overlapping functions and objectives of these new NGOs and existing Chinese chambers in Malaysia are reportedly causing confusion to officials and businessmen from China as they are unsure which organisations are authentic, reliable and representative.

Chinese President Xi Jinping will see China's corporations and their foreign partners building roads, railway lines, ports and power grids badly needed in many parts of Asia, Africa and the Middle East.

It will also facilitate its own industries to invest and broaden its market in these countries, and vice versa, said the Malaysia Star report.

Among the local organisations that are battling keenly for attention from China are the influential Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and smaller Malaysia-China Chamber of Commerce (MCCC).

"We are a specialist body with many members dealing with China trade since the 1960s. We have played a very important role in promoting bilateral trade and investments.

All major government agencies in China know us," MCCC president, Datuk Bong Hon Liong, was quoted as saying.

Mr Bong believes that beneath the current squabble over a "trivial" issue is the battle for influence with Chinese officials, as well as vast business and investment opportunities seen in belt-road economic programmes.

The MCCC has started working closely with MCA to organise 100 belt-road roadshows to help people understand the opportunities available. Up till now, we have conducted over 60 roadshows.

Due to the current economic slowdown in Malaysia and China, the shared goal to achieve total bilateral trade of US$160 billion by 2017 may have to be pushed back to 2020, according to Mr Bong. The impact of Chinese investments in Bandar Malaysia, Malacca, Kuantan and East Malaysia could only be felt later.