PETALING JAYA - Malaysia and China set the stage for a boom in relationship and the economy with what Chinese President Xi Jinping has described as a once-in-a-lifetime opportunity.
He described the great opportunities available from the significant upgrading of trade and business ties between the two countries, as "shi bu zai lai" ('it will only come once' in Mandarin).
Based on what has been agreed by the two leaders over a five-year economic and trade cooperation, there is much in store for both countries to benefit.
Malaysia and China have also finalised the teamwork mechanism for the China-Malaysia Qinzhou Industrial Park (QIP), launched in April last year, and signed the agreed minutes for the setting up of a joint cooperation council of the QIP and the Malaysia-China Kuantan Industrial Park (MCKIP).
The MCKIP, the sister park of QIP in the Guangxi Zhuang autonomous region in China, was launched by Prime Minister Datuk Seri Najib Tun Razak in April 2011.
The formation of the council is a huge step forward for the iconic QIP-MCKIP tie-up, as it would be responsible for coordinating, promoting, monitoring and evaluating the progress and development of the parks.
Most significantly, Najib and Xi pledge to achieve a bilateral trade volume of US$160bil (RM508bil) by the end of 2017 - 1.7 times more than last year's amount.
The leaders also spoke about extending their cooperation in areas such as information, telecommunication, remote sensing satellite technology, space technology and science.