(MENAFN- Qatar News Agency) China and Malaysia laid out plans for improving the economic ties in the next five years including a target to boost bilateral trade to 160 billion US dollars by 2017. Chinese President Xi Jinping and Malaysias Prime Minister Najib Razak have discussed a five year programme for economic and trade cooperation and agreed to elevate the current cooperation between both countries into a comprehensive strategic partnership. China and Malaysia have also agreed to expand sub-national cooperation and people-to-people exchanges. The Malaysian Prime Minister said China also expressed keen interest to participate in Malaysias high-speed rail project, China-Malaysia Qinzhou Industrial Park and the Malaysia-China Kuantan Industrial Park. China has been Malaysias largest trading partner for four consecutive years, with bilateral trade hitting a record high of nearly 95 billion US dollars last year. Meanwhile, Malaysia has been Chinas largest trade partner in the 10-member ASEAN five years in a row.
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