China aims to grow its Halal market

OVER the past several months, the China-ASEAN Business Council and the China-ASEAN Business Association have been holding a series of conferences to further economic relations between China and the ASEAN countries. In August, it has been reported that Guangzhou city has made a total of $838 million in ASEAN countries, mostly in the sectors of machine manufacturing, agriculture, mining, tele-communication, pharmaceutical, and real estate, said Zhang Liping, chairman of Guangzhou Chamber of Commerce and Foreign Trade.

En route Port Klang

At a conference for upgrading the ASEAN-China Free Trade Area (ACFTA), held on 4 September, Xu Ningning, executive president of the China-ASEAN Business Council, addressed over 150 delegates, providing them with information on how to do business with the ASEAN countries. He said that companies that wish to enter this burgeoning market can use the Port Klang Free Zone in Malaysia, the second largest port in Southeast Asia.

Xu Ningning, executive president of the China-ASEAN Business Council (right) with Malaysia's ambassador to China

“Foreign investors in Port Klang can benefit from incentives such as a 10-year tax break. Chinese companies investing here could further expand the 600-million-population consumer market in ASEAN, and utilise the FTAs of ASEAN with Australia and New Zealand, India, Japan and Korea to expand broader international markets. Companies could also avoid tax, non-tariff barriers and anti-dumping policies implemented by some countries against Chinese companies,” he said.

Halal business with Malaysia

Mr Xu added that China is interested in doing more business in Malaysia, particularly in expanding its own Halal market. In fact, companies from China and Malaysia have already set up the Halal Products Display and Processing Centre, which is the first step for China companies to develop and sell their own Halal products. (Photo courtesy of the China-ASEAN Business Council)