Chongqing - China (Chongqing) - Malaysia ILSTC Economic and Trade Promotion and Business Matchmaking Conference was successfully held on July 17 in Kuala Lumpur, Malaysia. 

With the theme "Sharing the New Path of the New International Land-Sea Trade Corridor (ILSTC), Creating a New Future of Collaborative Development," the event witnessed the signing of agreements totaling over 100 million US dollars.

During the promotion conference, representatives from Chongqing's relevant government departments and businesses showcased the development opportunities in Chongqing and signed seven projects on-site.

On-site of Malaysia ILSTC Economic and Trade Promotion and Business Matchmaking Conference on July 17. (Photo/Chongqing Municipal Commission of Commerce)

Signing seven projects on economic and trade cooperation

Among the signed agreements were three strategic cooperation initiatives between chambers of commerce. The Chongqing Federation of Industry and Commerce (General Chamber of Commerce) signed strategic cooperation agreements with the Malaysian China Chamber of Commerce, the Chongqing Cross-Border E-commerce Development Center signed with the Malaysia Belt and Road Commission, and the Chongqing Catering Chamber of Commerce signed with the Malaysia Selangor and Federal Territory Ku Su Shin Chong Hung Restaurant Association.

These agreements span various sectors, including cross-border e-commerce, catering, hotel accommodations, cultural tourism, and agricultural products.

The collaborations aim to establish communication mechanisms, jointly explore markets, enhance bilateral trade cooperation, improve service standards, elevate legal services, promote member training and exchange, and advance project implementation.

Additionally, four enterprises entered into import and export trade cooperation agreements, such as Chongqing Seres Group Co., Ltd. Overseas Division signed an agreement with Malaysia's Sunway Group, and so on. These agreements cover multiple sectors, including automotive vehicles and parts, clothing, and sporting goods, with the total contract value exceeding 100 million US dollars.

Facilitating the cross-border e-commerce cooperation

"Through joint efforts in building the Belt and Road Initiative with Malaysia, we have enhanced regional openness, expanded the scope of external opening, built extensive friendships, explored new ways to promote common development, and achieved mutual benefits and win-win outcomes," said Zheng Yugeng, Executive Vice President of the Chongqing ILSTC Strategy Research Institute, according to Cross-Border E-commerce International Cooperation Forum 2023 and the launching ceremony of the Yu Yue Life APP (online e-commerce shopping App). 

Zheng added that China and Malaysia should advance cooperation based on the Silk Road spirit of peace, cooperation, openness, inclusiveness, mutual learning, and mutual benefit, jointly creating a brighter future.

During the Cross-Border E-commerce International Cooperation Forum 2023, Suyuen Ventures Sdn Bhd from Malaysia will collaborate with Chongqing Yuxiang Yunji Network Technology Co., Ltd., making an investment plan. This plan aims to achieve mutual benefits through the new path of China's Belt and Road Initiative, further enhancing economic cooperation between China and Malaysia.