Xi promises greater access to Chinese market for Malaysia and Vietnam
The Chinese President is in Malaysia as part of his visit to south-east Asia.
Chinese leader Xi Jinping has promised Malaysia and Vietnam greater access to Chinese markets as he tours south-east Asia this week.
In his meeting with Malaysia’s king, Sultan Ibrahim Iskandar, on Wednesday, Mr Xi said: “China welcomes more high-quality agricultural products from Malaysia to enter the Chinese market and encourages Chinese companies to invest and start businesses in Malaysia.”
He also mentioned further developing cooperation in green tech and artificial intelligence, according to the official Xinhua News agency.
Later, the Chinese President told Malaysia’s leader that China will be a collaborative partner and stand with its south-east Asian neighbours in the wake of global economic shocks.
Mr Xi said at a dinner in with Malaysian Prime Minister Anwar Ibrahim: “In the face of shocks to global order and economic globalisation, China and Malaysia will stand with countries in the region to combat the undercurrents of geopolitical … confrontation, as well as the counter-currents of unilateralism and protectionism.
“Together we will safeguard the bright prospects of our Asian family,” he added.
Mr Xi’s tour comes after US President Donald Trump’s tariff announcements disrupted the global economy last week, and he has used the trip to promote Beijing as a source of stability in the region.
It is also a chance for Beijing to shore up its own relationships in the region and look for ways to mitigate the 145% tariffs that Mr Trump has kept on China, even as he paused tariffs for other countries.
Mr Xi kicked off his tour with a state visit to Vietnam, and arrived in Kuala Lumpur, Malaysia’s capital, for a three-day visit on Tuesday.
He met with Mr Ibrahim in Putrajaya, outside Kuala Lumpur, on Wednesday.
Malaysia is home to several Belt and Road Initiative projects, including an 11.2 billion dollar (£8.47 billion) Chinese railway project, which Mr Xi discussed in his meeting with the king.
China is also its largest trading partner and a top source of foreign direct investment.
Malaysia’s leader was effusive in his welcome of Mr Xi and praised China as a leader, while issuing thinly veiled criticism of the US.
Mr Ibrahim said: “What we are witnessing today is not an honest reckoning with the imperfections of globalization, but a retreat into economic tribalism.
“Market access is being weaponised.
“In these trying times, the world yearns for steadiness, reliability and a common purpose. We see this in China’s conduct.”
In Hanoi, Mr Xi had a meeting with Vietnam’s Communist Party general secretary To Lam, as well as senior leaders including the President and Prime Minister.
China and Vietnam signed a series of memorandums on cooperation in supply chains and a joint railway project, and Mr Xi also promised greater access for Vietnamese agricultural exports to China, although few details were made public about the agreements.
On Wednesday, China’s ministry of commerce confirmed that China and Vietnam had signed a memorandum “to build a smooth, stable, and resilient industrial chain and supply chain … and further deepen trade and investment cooperation” between businesses from the two countries.
China had also agreed to deepen its defence partnership with Vietnam.
The two sides agreed to “enhance cooperation in areas such as political work, maritime security, joint exercises and personnel training, and elevate the military-to-military relations to a new level”.
