Lanzhou in Gansu and Malaysia recently organized the joint Malaysia-China (Lanzhou) Online Agricultural Trade Forum. There were two sets of activities associated with this forum. First, representatives from companies in Malaysia and China introduced and promoted their products in an online event on the 3rd of February. Then, on the 8th of February, China's Lanzhou International Highland Summer Vegetable Trade Center and Malaysia's Premium Fruit Co., Ltd., signed an initial cooperation intention agreement. The trade in imported Malaysian fruit got off to a great start. After an exchange of ideas, two more companies reached an agreement. West Gansu Grain International Trade Co., Ltd. and Malaysia's Demanbu worldwide Co., Ltd. reached a trade agreement for white peppercorn with a total value of 646,150 USD.
"The Malaysian Ministry of Commerce and the Gansu Chamber of Commerce are working hard to come up with innovative ways to promote trade during this pandemic. They organize a small online event every month to stimulate the trade of characteristic regional products, Chinese medicine, and manufactured products from Gansu province, and every quarter they organize a large online trade convention. These events truly stimulate international trade as Gansu traders and Malaysian traders are able to meet up and strike a deal. These events provide a steady stimulus for Gansu industries and stimulate stable growth of foreign trade." This is according to Ma Yutian, a commercial representative of Gansu in Malaysia.
This time a total of 92 Malaysian companies joined the online event, including Bosch Oil Co., Ltd. and MBG Fruit Co., Ltd., as well as 25 Gansu companies such as the Lanzhou International Highlands Summer Vegetable Trade Center, Gansu Kangyuan Modern Agriculture Co., Ltd, and Gansu Yasheng International Trade Co., Ltd. The event further strengthened commercial cooperation between China and Malaysia, and stimulated the trade in agricultural products on both sides.
Gansu is an interior province that is at the crossroads of trade between Central Asia, South Asia, and West Asia. It is a key node in the distribution network as well as an important production area. Gansu already features a specialized land port and duty free trade area with 9 dedicated sections for imported vehicles, fruit, frozen fresh fruit, and other import products. Gansu has 12 international air freight routes and 4 international train routes. In 2020, the trade between Gansu and Malaysia was worth 340 million USD. Out of that amount, the trade between Lanzhou and Malaysia covered 270 million USD. Lanzhou export to Malaysia was worth 90 million USD and import was worth 180 million USD. The trade prospects between Gansu and Malaysia look very positive.