Asean-China Trade Hits US$772bil as Both Sides Pledge Stronger Ties

KUALA LUMPUR: Asean-China trade reached US$772.2 billion (RM3.24 trillion) in 2024, reinforcing China’s position as Asean’s largest trading partner, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Speaking at the 24th Asean Economic Ministers (AEM) meeting with China’s Ministry of Commerce, Tengku Zafrul stressed that Asean remains committed to strengthening ties through frameworks such as the China-Asean Free Trade Area (FTA). He emphasised the importance of openness, inclusivity, and multilateralism to ensure resilience in an increasingly complex global environment.

Asean-China trade

A special AEM-Mofcom consultation held in May reaffirmed both sides’ commitment to resolving trade concerns through dialogue while leveraging cooperation to tackle disruptions.

China’s Vice Minister of Commerce Yan Dong pledged full support for Malaysia as Asean chair this year, expressing confidence in Malaysia’s ability to maintain Asean’s unity and drive open regional trade.

Several related consultations with partners, including the US, India, and South Korea, will follow this week.

Business News