Guangdong signed a sister relationship memorandum with Malacca, Malaysia to boost bilateral cooperation on September 21.
Zhu Xiaodan, Governor of Guangdong led a delegation to launch a governmental visit from September 19 to 22 to Malaysia and met with Malaysian Prime Minister Najib Razak.
Malacca has been an important trading partner to Guangdong in recent years. The two regions' cooperation has been enhanced since Guangdong devoted itself to the construction of the 21st Century Maritime Silk Road and the cooperation of China-ASEAN FTA. The signing of the agreement will strengthen the exchanges of the senior officials of the two regions and also the bilateral cooperation in various sectors.
Guangdong-Malacca Industrial Park
Guangdong-Malacca Industrial Park is Guangdong's important "21st Century Maritime Silk Road" project. The development of the industrial park is based on port and harbor. Led by the cruise industry, the park boosts service sector including financing, trading, education, and medical care. The agreement also encourages research, tax cutting and law consultation on bilateral sides.
The agreement focuses on the economic cooperation and trading between the two partners. Malacca as the manufacturing center of Malaysia, produces high-tech armory, auto parts, and electronic parts. Official from Guangdong Department of Commerce said Guangdong set to boost investment in manufacturing through Guangdong Pilot Free Trade Zone, Guangdong 21st Century Maritime Silk Road International Expo, SME Fair and Canton Fair.
The memo is expected to push China and Malaysia one step closer to their goal of 160 million USD bilateral trade in 2017.