THE government is constantly devising strategies and finding the best ways to mitigate the impact of the United States and China trade war on the country.

International Trade and Industry Minister Darell Leiking said that included getting Malaysian companies operating in China to promote Malaysia as an alternative regional production hub.

“For example, the Malaysia External Trade Development Corporation in the US has intensified promotional activities to encourage US importers who had previously purchased most of their products from China, to consider Malaysia as a new alternative import target,” he said during a question-and-answer session in Parliament today.

Leiking was replying to a question from Halimah Mohamad Sadique (BN-Kota Tinggi) about Malaysia’s stance on the US-China trade war as Malaysia has diplomatic and trade relations with both countries.

Leiking said as set out in Budget 2020, a special channel would be set up under his ministry’s agency, InvestKL to attract high-tech, high-value and high-impact investment from China.

“This initiative is aimed at attracting and facilitating foreign direct investment from Chinese companies and multinational companies based in China, to expand or diversify manufacturing operations to Malaysia,” he said.

He added that the Asia-Pacific Economic Cooperation Summit, to be held next year in Kuala Lumpur, would provide a platform for Malaysia and China to achieve economic cooperation. – Bernama, November 21, 2019.