Chinese Premier Li Keqiang is paying his first official visit to Malaysia amid a series of ASEAN meetings held since last Friday on Nov. 19.
Founded in 1967, ASEAN consists of Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar and Vietnam. Its aims include accelerating economic growth, social progress, and sociocultural evolution among its members.
On Monday Premier Li Keqiang was welcomed with an official state ceremony, in which he was received by his Malaysian counterpart Najib Razak as they proceeded to inspect the guard of honor.
Premier Li has also met with representatives from Malaysian business community, urging for platforms for more cooperation between both countries’ SMEs.
Premier Li’s Malaysia visit boosts diplomatic, trade cooperation
Chinese Premier Li Keqiang has wrapped up his first official visit to Malaysia. It was a packed three days of summits, and forums, meetings with political and business leaders, and deal signings. It also included a visit to a historic city that could be considered the birthplace of China-Malaysia trade and cultural ties.
CCTV America’s Rian Maelzer reports from Kuala Lumpur.
Premier Li's visit boosts diplomatic, trade cooperationChinese Premier Li Keqiang has wrapped up his first official visit to Malaysia. It was a packed three days of summits, and forums, meetings with political and business leaders, and deal signings. It also included a visit to a historic city that could be considered the birthplace of China-Malaysia trade and cultural ties. CCTV America's Rian Maelzer reports from Kuala Lumpur.
Anil Gupta on Chinese Premier Li’s trip to Malaysia
CCTV America’s Michelle Makori interviewed Anil Gupta. He’s with the Smith School of Business at the University of Maryland.
Anil Gupta on Premier Li's trip to MalaysiaCCTV America's Michelle Makori interviewed Anil Gupta. He's with the Smith School of Business at the University of Maryland.
Murray Hiebert on China-ASEAN relations
CCTV America’s Mike Walter spoke to Murray Hiebert. He specializes in Southeast Asia Studies at the Center for Strategic and International Studies.
Murray Hiebert on China-ASEAN relationsCCTV America's Mike Walter spoke to Murray Hiebert . He specializes in Southeast Asia Studies at the Center for Strategic and International Studies.
Earlier in the day, Li addressed the Malaysia-China High Level Economic Forum in Kuala Lumpur, Malaysia. He pledged several moves to strengthen financial cooperation with Malaysia, including a plan to grant a 50-billion yuan ($8.2 billion) quota to Malaysia under the Renminbi Qualified Foreign Institutional Investor (RQFII) program.
Li called for joint efforts from both China and Malaysia to stabilize the financial market and boost investment and trade cooperation to tackle global financial instability and other economic woes.
China has been Malaysia’s largest trading partner for seven consecutive years, and Malaysia is now China’s top trading partner in ASEAN, with annual bilateral trade volume topping $100 billion.
He said China and Malaysia plan to grow trade to $160 billion by 2017.
Before his official state visit, Chinese Premier Li Keqiang has also visited the Malaysian state of Malacca, where he stopped at a museum that commemorates Zheng He, the intercontinental voyager who is believed to be the initiator of the ancient Maritime Silk Road.
While in the state he met with the Malaccan governor Mohd Khalil bin Yaakob and inspected a model of an industrial park, which will be constructed in partnership with south China’s Guangdong Province.
Malacca, located in the southern region of the Malay Peninsula, stands at a key point along the 21st Century Maritime Silk Road, which is part of the One Belt One Road Initiative proposed by Chinese President Xi Jinping in 2013.
Wrapping up his ASEAN meetings, the Chinese premier pledged to offer loans totaling $10 billion for ASEAN infrastructure as well as free assistance worth 3.6 billion yuan (around $563 million) to underdeveloped ASEAN nations in 2016.
He called on China and the ASEAN to speed up the upgrade of their free trade area (FTA), which aims to increase trade to $1 trillion by 2020, and to conclude the negotiations on the Regional Comprehensive Economic Partnership (RCEP) by 2016.
The premier also called for an active political and security dialogue and the establishment of regional security architecture, with a five-point proposal on the South China Sea disputes that he said would promote peace and stability.