KUALA LUMPUR, Aug 9 – Total import and export value between Malaysia and the Jiangsu province of China reaching US$18.3 billion in 2023, or 14% of total trade between the countries.
As of 2023, Malaysia’s cummulative investment in Jiangsu was US$3.2 billion, according to Jiang Xin, deputy director of the Jiangsu Provincial Department of Commerce here on Friday.
He said Jiangsu will have 185 investment projects in Malaysia with an agreed investment amounting US$2.1 billion.
He pointed out that since the signing of the Regional Comprehensive Economic Partnership (RCEP), the service trade between Jiangsu and ASEAN has developed rapidly.
In 2023, Jiangsu undertook nearly US$5 billion in ASEAN’s service outsourcing business, accounting for nearly 10% of the province’s service trade, an increase of more than 40% year-on-year, among which the business undertaken from Malaysia doubled.
Jiang Xin made the remarks when delivering a speech at the opening ceremony of the China Jiangsu Service Trade Expo at Kuala Lumpur Convention Centre (KLCC) today. The three-day fair was officiated by Liew Chin Tong, Deputy Minister of Investment, Trade and Industry Malaysia.
