Malaysia and China Agree On Single Window Cooperation to Enhance Trade and Ease of Doing Business

YAB Dato' Seri Anwar Ibrahim, Prime Minister and Minister of Finance, received an Official Visit from the Premier of the People's Republic of China, HE Li Qiang, at Perdana Putra on 19 June 2024 (Wednesday), in conjunction with the 50th anniversary of diplomatic relations between Malaysia and the People's Republic of China (PRC).
Chief among the outcomes of the bilateral discussions is Malaysia’s and China’s commitment to enhance and diversify the two nations’ trade activities.

With these objectives in mind, YAB Dato’ Seri Anwar and HE Li agreed to establish a Joint Working Group on Single Window Cooperation to discuss and further study the best approach for single window cooperation implementation, particularly through the National Single Window (NSW) initiative spearheaded by the Ministry of Finance
“The single window cooperation has the potential to contribute to improving the efficiency of cross-border trade clearance by digitalising trade regulatory processes, eliminating redundant documentation, and enabling seamless and more accurate exchange of information among related stakeholders and cross-border trade partners,” said YAB Dato’ Seri Anwar.

“Efforts to develop the single window cooperation also fulfils the Ekonomi MADANI framework’s aspirations, which emphasises digital transformation and ease of doing business as key thrusts to accelerate economic development,” he added.

The single window cooperation that has been agreed upon was announced through the Joint Statement of the Ministry of Finance of Malaysia and the General Administration of Customs of the People's Republic of China on Single Window Cooperation in Cross-Border Trade, which has been jointly signed by Minister of Finance II YB Senator Datuk Seri Amir Hamzah Azizan, and China’s Minister of General Administration of Customs HE Yu Jianhua.

In the first quarter of 2024, Malaysia's trade with China rose to RM112.28 billion from the preceding year’s RM108.66 billion. This encompassed total exports from Malaysia to China of RM44.5 billion, and imports from China of RM67.78 billion.

MINISTRY OF FINANCE
Putrajaya
19 June 2024