China, Malaysia renew five-year economic pact
China and Malaysia signed a slew of deals on Wednesday, renewing a five-year economic co-operation pact and allowing exports of fresh durians, during a visit by Premier Li Qiang to mark 50 years of diplomatic ties. Li met Malaysian Prime Minister Anwar Ibrahim in the administrative capital of Putrajaya, following his arrival in Kuala Lumpur on Tuesday. "China is ready to work with Malaysia," Li said in a statement, adding that focus areas included development strategies, mutually beneficial co-operation and exchanges to promote the building of a China-Malaysia community. After Wednesday's closed-door meeting, Li and Anwar witnessed the signing of more than a dozen pacts on co-operation in areas ranging from the digital economy to green development, housing, tourism and communications, among others. The new five-year pact that runs until 2028 provides for strategic collaboration in areas such as trade and investment, agriculture, manufacturing, infrastructure and financial services, a statement after the meeting showed. The five-year programme was first introduced in 2013. China also agreed to allow imports of fresh durian from Malaysia after it meets sanitary requirements, the statement added. The two countries also vowed to review visa-free travel arrangements set to expire in coming months. China has been Malaysia’s largest trading partner since 2009, and the foreign ministry said total trade was valued at US$98.9 billion in 2023. Li is on the third leg of a trip that has included New Zealand and Australia. (Reuters)