Sunday, 8 July 2018

(The Star) Chance for a win-win solution

The Chinese government, which was looking forward to the construction of the East Coast Rail Link (ECRL) involving Malaysia and China, hopes a win-win solution can be found through sincere and friendly consultations, says the Chinese Embassy in Malaysia.

The Chinese government has always requested Chinese-funded enterprises to conduct pragmatic cooperation overseas to abide by the principle of equality and mutual benefit, local laws and regulations, as well as international common business principles, it said in a statement.

“China and Malaysia have long been sincere and friendly neighbours and important partners. We hope that the two sides will find a win-win solution through sincere and friendly consultation based on the principle of mutual respect, equality and mutual trust.”

Previously, it was reported that Malaysia Rail Link Sdn Bhd had notified China Communications Construction Company (CCCC), the contractor for the ECRL project, to suspend work on the 688.3-km railway project on the grounds of national interest.

The suspension came a day after the Finance Ministry disclosed that the final cost of the ECRL project was RM81bil and that CCCC needed to reduce the construction cost significantly to make it viable financially.

Any decision taken in relation to the controversial ECRL will not affect trade and investment relations between Malaysia and China, said International Trade and Industry Minister Darell Leiking.

“There is still good trade relations with China, as well as with all other nations.

“Malaysia is still the main hub that everybody wants to engage with,” he told reporters after attending a “Tech Tarik Talk” session with industry players on Industry Revolution 4.0.

Leiking noted that a lot of industries in Malaysia were supplying products to the world.

“There are several components that are manufactured in Malaysia and exported later which are needed all over the world. That means that we are really important components of the entire world,” he said.

“Our trading relationship with China is still good,” Leiking noted.