Dato’ Dr Tan Yew Seong, Director of the Malaysia-China Summit 2024, revealed that the Thai trade industry will benefit from over 500 exhibitors and 10,000 trade delegates from Malaysia, China and ASEAN at the summit. Business matching opportunities, industry forums, discussions, networking and knowledge sharing will be provided at the summit, which aims to promote regional cooperation and collaboration,” Dato’ Dr Tan Yew Seong said at the MCS 2024: Networking Engagement Series in Bangkok today. Themed “Prosperity Beyond 50”, the summit will comprise a three-day international trade and investment fair and a two-day leaders’ conference, centered around five key themes: Future Technologies, Future Knowledge & Experience, Future Mobility & Connectivity, Future Growth and Future Opportunities. These themes will focus on over 20 key sectors that are critical to the region’s economic growth.

Thai Industries In particular, digital technology, AI, renewable energy, e-mobility, commodities, global services, tourism, education, regional connectivity infrastructure, electronics, medical and health tourism, advanced manufacturing, food & beverage, halal industry, franchising, culture and tourism will find a wealth of collaboration and growth opportunities at the summit. Organised by Qube Integrated Malaysia in collaboration with the Malaysia External Trade Development Corporation (MATRADE), the summit aims to celebrate the 50th anniversary of diplomatic relations between Malaysia and China, while also promoting regional cooperation and showcasing ASEAN’s shared strengths in light of Malaysia’s ASEAN Chairmanship in 2025. The event will be held from 17 – 19 December 2024 at the Malaysia International Trade and Exhibition Centre in Kuala Lumpur, Malaysia.

Mr. Mohammad Hafiz Muhammad Sharif, Commercial Attache, Malaysian External Trade Development (MATRADE) in Bangkok, said, “MCS 2024 provides unprecedented opportunities for businesses to engage, collaborate and explore new growth avenues with their counterparts from Malaysia, China and ASEAN. With a large number of exhibitors and visitors, Covering a wide range of sectors, Thai businesses can network and access markets, build strategic partnerships and gain insights into emerging trends and technologies.

The Trade Commissioner pointed out that the summit targets at least RM2 billion in potential trade and investment opportunities, creating ample opportunities for Thai industries to innovate, diversify their investment portfolios and tap into synergies between the Malaysian and Chinese markets. In his keynote address, H.E. Datuk Joji Samuel M. Zee Samuel, Malaysian Ambassador to the Kingdom of Thailand, invited Thai industries to enhance bilateral trade with Malaysia to achieve the two countries’ mutual trade target of US$30 billion by 2027. Both countries are committed to achieving this target, highlighting compelling reasons for Thai businesses to attend MCS 2024. “This target reflects our strong commitment to expanding economic cooperation and looking for new investment opportunities between our two countries,” the Ambassador said.

Emphasizing the strong bilateral trade relationship between Malaysia and Thailand, he said that Thailand is Malaysia’s fourth largest global trading partner and second largest in ASEAN, while Malaysia is Thailand’s largest trading partner in ASEAN. This interdependence reflects the significant economic relationship and the opportunity for deeper cooperation. “From 2017 to 2023, Malaysia and Thailand maintained a strong bilateral trade relationship, averaging US$24.73 billion per annum. Although it declined slightly in 2023 due to the slowdown in global trade, Malaysia remains Thailand’s leading ASEAN trading partner,” he added.

“From January to May 2024, Malaysia-Thailand trade totaled US$9.76 billion (RM46.16 billion), with exports of US$5.02 billion (RM23.74 billion) and imports of US$4.74 billion (RM22.42 billion),” Dato’ Joji said of the data. The ambassador also highlighted Malaysia’s strength in exporting essential products to Thailand, such as electrical appliances, health products and halal products, which cater to Thailand’s large Muslim population.

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