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Malaysian firms ink multibillion dlr deal in ASEAN-China expo

Malaysian firms inked USD10-billion economic cooperation agreements with Chinese companies during a roundtable dialogue at the recently-concluded China-ASEAN Expo in Nanning of south China's Guangxi, according to Xinhua news.

The report cited Malaysia's state news agency Bernama saying that Malaysian and Chinese firms signed engineering and construction contracts for a hybrid power project in Sri Lanka and a thermal power plant in Vietnam.

Malaysian public transport consortium, Perak Transit and automaker Proton also sealed agreements with Chinese passenger car maker, Xiamen King Long United Automotive Industry Co. Ltd. and China's Hawtai Motor Group, according to the report.

Organizers said the total trade volume at the annual six-day China-ASEAN expo, which concluded on Wednesday, reached 1.8 billion U.S. dollars, up 5.6% from the previous one.

The expo was meant to improve economic and diplomatic ties between China and ASEAN.

Chinese Premier Wen Jiabao, Cambodian Prime Minister Hun Sen and Najib were among the state leaders who attended the expo and meetings held on the sidelines.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Source: Xinhua news