Abb Takk News

Malaysia Aims to Withdraw Chinese Trade Deal

Kuala Lumpur (August 13, 2018): Mahathir Mohamad seek to cancel Chinese trade deals that were signed by his predecessor.

According to International News Agency, 93 years-old Prime Minister Dr Mahathir Mohamad said in an interview on Monday that he will seek to cancel multi-billion dollar Chinese-backed infrastructure projects that were signed by his predecessor.Prime Minister made the comments during a press interview days before heading to Beijing for his first visit, that he wants to maintain good relations with China and welcomes its investment, so long as the projects benefit Malaysia.

During his time in office, Najib drew Malaysia closer to China, and reached deals in infrastructure sector. Malaysia’s new government has already suspended work on the projects, being built by Chinese state-backed companies, and called for drastic cuts in their ballooning cost, which it estimates at more than US$22 billion.

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