KUCHING (Aug 6): Trade between Sarawak and China stood at RM15.8 billion last year, with Sarawak’s exports recorded at RM10.1 billion while imports amounted to RM5.7 billion.
Chief Minister Datuk Patinggi Abang Johari Tun Openg said the business collaboration between the two countries is in Liquified Natural Gas (LNG) and petroleum products, palm oil, timber products and electrical components, manufactured goods, machinery and food.
He said as China is leading in innovation and showcases the acceleration of its economic transformation through the Digital Economy, Sarawak believes that there are opportunities for the state to learn from the country in transforming its economy through the Digital Economy.
“Especially Small and Medium Industries, they need to benchmark or adopt a similar business model in order to be successful in e-Commerce. With online presence, the world is our market,” he said in his keynote address at the Sarawak-China Business Forum here today.
He pointed out that Sarawak is aiming for the Digital Economy to contribute 17.4 per cent to the Gross Domestic Product (GDP) by 2025, while for this year the contribution of the Digital Economy to GDP is expected to be at 2.3 per cent. - Bernama