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4th CIIE to help bolster economic recovery in Malaysia Release date: 2021-01-12    Source:Chinanews.com, Xinhua

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) announced on Jan 9 that they will continue to participate in the fourth China International Import Expo (CIIE) that will be held in Shanghai from Nov 5 to 10, as this major event will enhance economic cooperation between the two countries and help Malaysia recover from the recession triggered by the coronavirus pandemic.

The national level organization said in the statement that CIIE provides a significant platform to seek opportunities in China's large and promising market. It also said that it will prompt more Malaysian companies to take part in this year's expo and work proactively to help them clinch more deals.

This will be the fourth time that Malaysian exhibitors have attended the CIIE. In an interview with Xinhua News Agency on the sidelines of the third CIIE in Nov 2020, Ter Leong Yap, president of the ACCCIM, said that their decision to participate in the annual event despite the serious pandemic came after a review of the achievements they had made through the CIIE.

At the second CIIE in 2019, one of the Malaysian exhibitors sealed a contract worth $1 million within a mere six minutes after the exhibition kicked off, said the president.

A report released on Aug 14, 2020 by the Central Bank of Malaysia predicted that the country's economy would shrink by 3.5 to 5.5 percent in 2020 compared to the year before, though it is expected to rebound this year, up 5.5 to 8 percent.

To recover faster, Malaysian companies are looking to strengthen their presence in overseas markets. China is naturally an ideal market to be in as it has been leading in the containment of COVID-19 and economic recovery.

According to the ACCCIM, more varieties of Malaysian products will be introduced at the fourth CIIE. In addition to durian, coffee and edible bird's nests, which were exhibited at past expos, special Malaysian desserts, snacks, dairy products and more agricultural foods will be displayed.