Malaysia to tighten economic ties

Malaysia will strengthen its ties with Chinese companies in e-commerce, digital economy and artificial intelligence to further accelerate the liberalization of trade and attract investment to maintain a robust growth momentum, a senior Malaysian commerce official said on Monday.

Seri Ong Ka Chuan, second minister of Malaysia's Ministry of International Trade and Industry, said as the Association of Southeast Asian Nations has already signed free trade agreements with major trade partners such as China, South Korea, Japan and Australia, developing digital economy and high-end industries can help Malaysia diversify its economy via a consumption and investment-fueled economic development model.

The Malaysian government and Alibaba Group Holding Ltd jointly launched a regional e-commerce hub located close to Kuala Lumpur airport earlier this month, and Alipay, an online payment platform under Alibaba, was introduced to the country earlier this year.