Kuala Lumpur: Malaysia and China have entered into several memoranda of understanding (MoUs) aimed at enhancing trade in services and industrial cooperation, potentially elevating economic linkages between the two nations to higher levels. The agreements were signed during a ceremony attended by Prime Minister Datuk Seri Anwar Ibrahim and Chinese President Xi Jinping.

According to BERNAMA News Agency, the MoUs include cooperation in trade in services and an upgrade of the China-Malaysia ‘Two Countries, Twin Parks’ initiative. Additional MoUs were signed to foster cooperation in artificial intelligence (AI) and the digital economy, as well as an agreement between China’s State Administration for Market Regulation and Malaysia’s Department of Standards for cooperation in standardisation.

Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz and China’s Minister of Commerce Wang Wengtao represented their respective countries in exchanging documents related to trade in services, twin parks, and standardisation. The twin parks initiative involves the Malaysia-China Kuantan Industrial Park (MCKIP) and the China-Malaysia Qinzhou Industrial Park in China, which serve as a model for modern cross-border cooperation.

Furthermore, MoUs were exchanged between Malaysia’s Digital Ministry and China’s National Development and Reform Commission (NDRC) on AI and the digital economy. These were signed by Digital Minister Gobind Singh Deo and NDRC chairman Zheng Shanjie. The signing ceremony took place at the Seri Perdana Complex as part of President Xi’s three-day state visit to Malaysia.