Malaysia Port to establish trade settlement centre

Representatives from EXIM Bank of Malaysia and Port Kelang International Trade and Halal Industry Development Center discussed the plan of establishing the international trade settlement center in the Port Kelang Free Trade Zone (PKFZ).
On the supporting financial service for exporters who would invest and trade in PKFZ, both sides agreed lately to establish the international trade settlement center in Port Kelang.
This move would promote the development of Port Kelang International Trade and Halal Industry Development Center while supplying efficient trade settlement and financial service to the enterprises.
Xia Baowen, the president of Malaysia China International Business Centre expressed that the international trade settlement center would improve the regional economic cooperation among countries. It would have a significant impact on PKFZ in avoiding exchange rate risk, improving the trade efficiency, maintaining the steady growth in foreign trade and other aspects.
Xia also mentioned that he was planing to discuss with Bank of China in Malaysia about the collaboration of the international trade settlement center to bring actual convenient to Chinese enterprises. Using RMB Cross-border can effectively avoid the risk of exchange rate fluctuations, increasing the utilization of funds, he added.