Since the Ming treasure voyages led some Chinese to migrate and settle in Southeast Asia, a profound cultural bond has taken root between the Chinese and Malay communities in Peninsular Malaysia.
Malaysia has maintained active trade engagement with Hong Kong for over a century. While past collaborations spanned traditional sectors like finance, healthcare, and consumer goods, new opportunities have emerged in electric vehicles and renewable energy industries.
What has sustained the ties between Malaysia and Hong Kong over the past century? Yazrin Syakhairi Mahlan, the Trade Commissioner of the Consulate General of Malaysia in Hong Kong, reveals the answer: the common language.
On the one hand, the two economies share a common business lexicon, allowing both sides to quickly establish rapport and delve into core discussions, saving substantial communication costs. On the other hand, they utilize the same languages - English, Cantonese, and Mandarin - eliminating linguistic barriers to collaboration.
Today, ASEAN has become Hong Kong's second-largest trading partner and Malaysia, the third-largest economy in ASEAN, is regarded as one of Asia's wealthiest nations. As an open, free, and developed international economy, Hong Kong is a strategic bridge connecting the China-Malaysia partnership regarding geographic location, trade exchanges, and business environment.
However, Yazrin notes that globalization faces headwinds, with challenges such as reduced demand, weak markets, and extended payment terms sweeping in. "But challenges mean opportunities, and difficulties will eventually pass," he affirms.
According to Yazrin, the Malaysian government will strengthen coordination with China's Guangdong-Hong Kong-Macao Greater Bay Area, a national strategic project, in areas including technology, education, and electric vehicles.
2024 marks the 50th anniversary of China-Malaysia diplomatic relations, providing a prime opportunity to review past achievements and explore new avenues of cooperation.
Watch the video for more insights!
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