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China and Malaysia announce 5-year plan to boost bilateral trade
Reported by: Associated Press
Reported: Friday, October 4, 2013 2:26 AM EDT
KUALA LUMPUR, Malaysia
China and Malaysia have announced plans to significantly boost bilateral trade in the next five years through measures such as supporting industrial parks in each other's countries.
China is Malaysia's top trading partner, while Malaysia is China's biggest trade partner among the 10-member Association of Southeast Asian Nations, or ASEAN. Bilateral trade totaled $94.8 billion in 2012.
Xi told reporters after talks with Malaysian Prime Minister Najib Razak that China "understands Malaysia's important role in ASEAN and we would like to participate and cooperate in promoting the prosperity and stability of the region."