KUALA LUMPUR, March 8 (Xinhua) -- Free and open trade have been instrumental in facilitating businesses and ensuring that supply chains operate smoothly amid global uncertainties, a Malaysian official said on Friday.

Malaysia is determined to ensure the successful implementation of ASEAN-China Free Trade Area and Regional Comprehensive Economic Partnership (RCEP) of which both China and Malaysia are members, Investment, Trade and Industry Ministry secretary-general Hairil Yahri Yaacob said in his keynote address at the soft launch of the Malaysia-China Summit 2024.

"Malaysia aims to promote a balanced and inclusive economy with all its trading and FDI (foreign direct investment) partners. To this end, China has always been regarded as a strategic partner to Malaysia, demonstrated by the strong bilateral trade and investment performance," he said.

"I would like to encourage the business communities here and in China to work with the government to fully leverage on these opportunities to engage with other RCEP partners. I highly encourage businesses to utilize Malaysia's position as the gateway to ASEAN," he added.

Meanwhile, Zheng Xuefang, Minister at the Chinese embassy in Malaysia, said practicing true multilateralism, maintaining liberalization and facilitation of trade and investment are in line with the common interests and development targets of China and Malaysia.

"China is confident in promoting the steady growth of the economy in a new stage of high-quality development, and providing lasting impetus for the growth of the world economy and trade," Zheng said.

The Malaysia-China Summit 2024, which is composed of trade and investment exposition and industry leaders' conferences, will be held from Dec. 17 to Dec. 19 this year to commemorate the 50th anniversary of bilateral ties between China and Malaysia. Enditem

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