Malaysia has been seen as one of the major beneficiaries since the launch of the Belt and Road Initiative (BRI) in 2013. Envisioned by China’s President Xi Jinping, the BRI is regarded as a game changer, not only in the sense of strengthening the economic linkage for mutual benefits, but to further improve bilateral ties between China and Malaysia. Whilst many local organisations and China companies are already eyeing for opportunities to be part of the BRI success story, Baker Tilly (Malaysia) became one of the first accounting firms in Malaysia to establish a Belt and Road Desk, aimed to address the accounting, tax, and business advisory needs to facilitate the increasing trade and other business opportunities between China and Malaysia.

The Baker Tilly Belt and Road Desk was launch today at the Baker Tilly Malaysia head office in Kuala Lumpur. The Belt and Road Desk is staffed by a team of professionals with extensive experience and knowledge in both the Malaysian and China markets, to connect and assist organisations in both countries to expand their businesses into markets covered under the Belt and Road initiative.

Baker Tilly (Malaysia) Partner Dato’ Lock Peng Kuan said “the establishment of the Baker Tilly Belt and Road Desk represents our recognition of how business in both China and Malaysia will benefit from this Initiative. In May this year, President Xi Jinping shared that Chinese enterprises contributed close to US$1.1bil in tax revenue and created 180,000 jobs in some 20 countries. China’s bilateral trade with Malaysia totalled about US$100bil (RM433bil) in 2016. Even with all these data and progress, not many businesses are clear about how they can jump on the bandwagon. This is where the Baker Tilly Belt and Road Desk comes in.” “We are definitely excited to be part of this initiative that will drive the government’s vision to become a competitive nation by 2020. The Belt and Road infrastructure project spans across 69 countries. Baker Tilly has offices in 60 of these countries, which means we and our network firms are in an ideal position to provide the professional services to businesses who want to take advantage of the economic opportunities of the BRI.”

To help the local Small and Medium sized Enterprises (SMEs) in raising their global competitiveness under BRI, Baker Tilly is also planning to work closely with the Malaysia Digital Economy Corporation (MDEC) to encourage SMEs to take advantage of e-commerce in cross-border trade.

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