KUALA LUMPUR, Malaysia (AP) -- China and Malaysia have announced plans to significantly boost bilateral trade in the next five years through measures such as supporting industrial parks in each other's countries.
Leaders of both nations said Friday during a visit to Malaysia by Chinese President Xi Jinping that the plans would increase bilateral trade to $160 billion by 2017.
China is Malaysia's top trading partner, while Malaysia is China's biggest trade partner among the 10-member Association of Southeast Asian Nations, or ASEAN. Bilateral trade totaled $94.8 billion in 2012.
Xi told reporters after talks with Malaysian Prime Minister Najib Razak that China "understands Malaysia's important role in ASEAN and we would like to participate and cooperate in promoting the prosperity and stability of the region."
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