China ready to work with Malaysia to defend free trade system
KUALA LUMPUR: Chinese Premier Li Qiang said Monday that China is ready to work closely with Malaysia to safeguard free trade and the multilateral trading system, and address global challenges.
Li made the remarks when meeting with Malaysian Prime Minister Datuk Seri Anwar Ibrahim, Xinhua news agency reported.
Li also said China is ready to work with Malaysia to deepen exchanges and collaboration across various fields, and jointly usher in a new 'Golden 50 Years' for bilateral ties guided by the principles of mutual respect and trust, equality and mutual benefit for win-win outcomes.
The Chinese Premier arrived in Kuala Lumpur on Monday to attend the ASEAN-GCC (the Gulf Cooperation Council)-China Summit at the invitation of Anwar.
He was welcomed by Malaysian Transport Minister Anthony Loke Siew Fook and Chinese Ambassador to Malaysia Ouyang Yujing, among others, at Kuala Lumpur International Airport.
Prior to his arrival in Malaysia, ASEAN's rotating chair, Li paid an official visit to Indonesia.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
an hour ago
- New Straits Times
Malaysian palm oil futures ends higher on Chicago soyoil gains
JAKARTA: Malaysian palm oil futures closed higher for the third straight session on Monday, tracking gains in Chicago soyoil after the US proposed higher biofuels blending volumes, and elevated crude oil prices. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained RM171, or 4.36 per cent, to RM4,093 (US$965.79) a metric ton at the close. US President Donald Trump's administration on Friday proposed increasing the amount of biofuels that oil refiners must blend into the nation's fuel mix over the next two years, driven by a surge in biomass-based diesel mandates. It pushed Chicago soyoil futures to their highest level in nearly 18 months on Monday, after rising more than 6.0 per cent on Friday. Soyoil on the Chicago Board of Trade (CBOT) gained 5.39 per cent. Dalian's most-active soyoil contract was up 2.45 per cent, while its palm oil contract rose 3.76 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Darren Lim, commodities strategist at Singapore-based brokerage Phillip Nova, said the edible oils market tracked gains in crude oil since Friday when Israel bombed Iran. "Supply disruption fears lead to heightened risk premiums," said Lim. Higher energy prices increase both palm oil production costs and potential demand for biofuels. The biofuel sector acts as an alternative energy source to crude oil-derived fuels, Lim added. Oil prices edged 0.7 per cent lower on Monday after a seven per cent surge on Friday, as renewed military strikes by Israel and Iran over the weekend left oil production and export facilities unaffected. Stronger crude oil futures make palm oil a more attractive option for biodiesel feedstock. Cargo surveyor Intertek Testing Services said exports of Malaysian palm oil products for June 1–15 rose 26.3 per cent compared to May 1–15, while according to independent inspection company AmSpec Agri Malaysia it rose 17.8 per cent.
Focus Malaysia
an hour ago
- Focus Malaysia
Vape ban will backfire: Industry, consumer advocates urge gov't to enforce regulations instead
AS Pahang becomes the latest Malaysian state to announce a ban on vape products, industry and consumer representatives are calling for a more balanced approach. They are urging the relevant authorities to focus on enforcing existing federal regulations under the Control of Smoking Products for Public Health Act 2024 (Act 852) instead of implementing blanket bans that risk worsening public health and safety. The Malaysian Vape Chamber of Commerce (MVCC) and the Consumer Choice Centre (CCC) Malaysia have both voiced serious concern over the growing trend of state-level vape bans. Both warned that such measures will not eliminate vaping but will instead push the activity underground, benefiting black market operators and endangering consumers. 'The vape industry in Malaysia is not a fringe sector. It is a legitimate, regulated industry that contributes significantly to the economy,' the Malaysian Vape Chamber of Commerce (MVCC) secretary-general Ridhwan Rosli told FocusM. 'According to the Malaysian Vape Industry Study 2023, the industry was valued at RM3.48 bil, employing 31,500 workers and supported by 7,500 general retail shops and 2,500 specialty vape shops. 'These are real jobs, real businesses and real livelihoods that are now at risk because of these state bans.' Lacking enforcement Instead of banning vape products outright, Ridhwan urged state governments to work with the federal government to enforce Act 852 which provides a clear framework to regulate the sale, marketing and manufacturing of vape products in Malaysia. 'Vape retailers have already submitted the necessary documentation to the Health Ministry (MOH) to comply with product registration and price approval requirements with approvals expected anytime now,' he lamented. 'This clearly shows that legal industry players are ready and fully supportive of Act 852. We should be focusing on rolling out and enforcing Act 852 instead of sidelining it through outright bans.' Ridhwan further expressed concern that enforcement has not yet caught up with the law despite legal industry players being fully prepared to comply with Act 852. 'In fact, we've been pushing for these regulations for years because we believe in responsible business practices,' he justified. 'But when bans are imposed, it punishes the compliant legal players and creates a vacuum that illegal and unregulated vendors will quickly fill. 'The bad actors are the ones operating in the shadows to distribute vape products containing illicit substances. A ban won't stop them; it will just give them more customers.' Harm reduction compromised Echoing similar concerns, the Consumer Choice Centre (CCC) has also highlighted the dangers of pushing consumers to the black market. 'When state governments ban access to legal, regulated products, consumers don't stop using them but they simply lose the protection of safety standards and quality control,' opined CCC's Malaysia country associate Tarmizi Anuwar. 'The black market becomes the only option, and that's where real harm begins. Products with unknown ingredients, unregulated nicotine levels and dangerous additives become widespread. That's a far greater risk to public health.' Tarmizi went on to urge Malaysia to focus on harm reduction as a central public health strategy. 'Millions of Malaysians are still smoking cigarettes when vape has been a proven tool to help many of them transition away from combustible tobacco. By banning vape, we risk reversing that progress by driving smokers back to far more harmful products,' he warned. He also stressed the need for both the federal and state authorities to work together to ensure Act 852 is effectively enforced, particularly at retail points of sale through proper licensing, age verification mechanisms and routine inspections. View this post on Instagram A post shared by Berita RTM (@beritartm) 'If states truly want to protect public health, they must regulate – not prohibit. Enforcement is key, not prohibition.' With Johor and Kelantan having had long-standing bans in place since 2016, and now Terengganu and Perlis set to implement similar prohibitions from Aug 1 1, MVCC and CCC warn that Malaysia risks creating a fragmented regulatory landscape that undermines national policy coherence. 'We urge state governments to re-consider,' reasoned Tarmizi. 'Let's give the new regulations under Act 852 a chance to work. 'Let's strengthen enforcement, crack down on the black market and support responsible businesses that are committed to harm reduction. Bans may seem like an easy fix but they will only create bigger problems down the road.' – June 16, 2025
The Star
an hour ago
- The Star
US pushes Vietnam to decouple from Chinese tech: Sources
Vietnam shipped US$33 billion of tech goods to the United States or 28% of the US-bound exports. - Vietnam News/ANN HANOI: The United States is pushing Vietnam in tariff talks to reduce the use of Chinese tech in devices that are assembled in the country before being exported to America, three people briefed on the matter said. Vietnam is home to large manufacturing operations of tech firms such as Apple and Samsung, which often rely on components made in China. Meta and Google also have contractors in Vietnam that produce goods such as virtual reality headsets and smartphones. The South-East Asian nation has been organising meetings with local businesses to boost the supply of Vietnamese parts, with firms showing willingness to cooperate but also warning they would need time and technology to do so, according to one person with knowledge of the discussions. The Trump administration has threatened Vietnam with crippling tariffs of 46% which could significantly limit access for Vietnam-made goods to their main market and upend the Communist-run country's export-oriented growth model. Vietnam has been asked "to reduce its dependency on Chinese high-tech," said one person familiar with the discussions. "That is part of the restructuring of supply chains and would in turn reduce US dependency on Chinese components," the person added. The ultimate objective is to speed up US decoupling from Chinese high-tech while increasing Vietnam's industrial capacity, a second person said, citing virtual reality devices as an example of Vietnam-assembled products that are too dependent on Chinese technology. All sources declined to be identified as the discussions were confidential. Reuters was not able to learn if the US has proposed numerical targets such as caps on Chinese content for "Made in Vietnam" goods or different tariff rates based on the amount of Chinese content. Apple, Samsung, Meta and Google did not reply to Reuters requests for comment. As the US-imposed deadline of July 8 nears before the tariffs take effect, the timing and scope of a possible deal remain unclear. All sources stressed that while the US has made broader requests for Vietnam to reduce its reliance on China, tackling the issue of Chinese high-tech content in exports was a key priority. Last year, China exported around US$44 billion of tech such as electronics components, computers and phones to Vietnam, about 30% of its total exports to the country. Vietnam shipped US$33 billion of tech goods to the United States or 28% of the US-bound exports. Both flows are on the rise this year, according to Vietnam's customs data. Vietnam's trade ministry did not reply to Reuters requests for comment. Separate sources have previously said that US demands were seen as "tough" and "difficult" by Vietnamese negotiators. The US also wants Vietnam to crack down on the practice of shipping Chinese goods to America with misleading "Made in Vietnam" labels that draw lower duties - which Vietnam is also trying to heed. The ministry said on Sunday that a third round of talks last week in Washington ended with progress, but critical issues remain unresolved. Vietnam's ruling Communist Party chief To Lam intends to meet US President Donald Trump in the United States, possibly in late June, officials with knowledge of the matter said. No date has been announced for the trip. The White House and Vietnam's foreign ministry did not respond to requests for comment on the possible visit. Local firms attending meetings organised by the trade ministry in recent weeks expressed a general willingness to adapt, but many warned that instant changes "would destroy business", according to one of the sources. Vietnam has been slowly developing an industrial ecosystem with local suppliers but it has a long way to go before it can match China's advanced supply chains and cheaper pricing, industry executives say. "Vietnam is about 15-20 years behind China in somewhat fully replicating its supply chain scale and sophistication, but it's catching up fast, especially in key sectors like textiles and electronics," said Carlo Chiandone, a Vietnam-based supply chain expert. Abrupt changes to existing practices may hurt Vietnam's delicate relationship with China, which is both a major investor in its South-East Asian neighbour and a source of security concerns. - Reuters
