This is in the face of post-pandemic challenges, geopolitical tensions and a host of other destabilising factors, Anwar said in his opening remarks at the 20th China-Asean Expo (CAEXPO) and the China-Asean Business and Investment Summit (CABIS) here today.

He said Asean will remain as one of the fastest-growing regions in 2023, and it is vital for the grouping and China to diversify their trade and investment strategies.

“Despite global economic challenges, Asean remains an attractive destination for international investment, charting an economic growth of 5.5% in 2022, with 4.6% (growth) projected for 2023.

“This trajectory places Asean well above the global average, which the International Monetary Fund (IMF) has forecast at 3.5% for 2022 and 3% for (both) 2023 and 2024,” he said.

Anwar, who greeted the guests in Mandarin before delivering his speech, urged Asean and China to intensify their cooperation in digital economy to empower the micro, small and medium enterprises (MSMEs) to thrive in this digital age.

He said the MSMEs contribute 85% to employment, 44.8% to the gross domestic product, and 18% to national exports in Asean.

Touching on the China-Asean Expo, Anwar, who is also the finance minister, said Malaysian companies have achieved commendable outcomes in China and Asean markets over the past 19 CAEXPO editions.

“As we look to the future, Malaysia is confident that our trade and economic relations with China will only grow stronger through various strategic initiatives.

“As we embark on this journey of enhanced cooperation, let us seize the vast business opportunities of CAEXPO 2023 to explore and foster new relationships and accelerate progress across the board,” he said.

Anwar’s entourage include investment, trade and industry minister Tengku Zafrul Aziz and local government development minister Nga Kor Ming.