Malaysian Prime Minister Mahathir Mohamad delivers a keynote speech at the launch of Malaysia's first commodities e-commerce trading platform in Putrajaya, Malaysia, May 2, 2019. Malaysia is ideally placed to be the trade gateway for commodities trade between China and the Association of Southeast Asian Nations (ASEAN), Malaysian Prime Minister Mahathir Mohamad said on Thursday. (Xinhua/Chong Voon Chung)

KUALA LUMPUR, May 2 (Xinhua) -- Malaysia is ideally placed to be the trade gateway for commodities trade between China and the Association of Southeast Asian Nations (ASEAN), Malaysian Prime Minister Mahathir Mohamad said on Thursday.

Delivering a keynote speech at the launch of Malaysia's first commodities e-commerce trading platform, Mahathir said Malaysia's location in ASEAN and its long-standing cultural ties with China make it an ideal business partner in the sector.

"Malaysia-China bilateral relations were established way back in the early 1400s when the Malacca sultanate established ties with the Ming Dynasty. Strategically located amidst one of Asian's most spectacular regions, Malaysia's 600 years of trade relations with China fostered not only economic relations but also social and cultural ties," he said.

Mahathir said the e-commerce trading platform, operated by a Malaysian company Commodities Global Trade Sdn. Bhd. (CGTSB) that holds the exclusive rights under Bohai Commodity Exchange of China, would help the country leverage on its plan to become a regional trade bridge with China.

"I am indeed pleased to be here today to witness another new system which promises great potentials and possibilities for Malaysian businesses exploring the opportunities beyond our shores," he said.

Mahathir explained that these rights enabled the CGTSB to cater for the whole ASEAN market while making Malaysia the new gateway for ASEAN venturing into China market.

"This new move, which involves e-commerce, is going to enhance trade between Malaysia and China in particular and also the ASEAN countries," he added.

Mahathir also said the CGTSB was working closely with the Malaysian Ministry of International Trade and Industry, the Ministry of Economic Affairs and Ministry of Primary Industries, besides the Malaysian Palm Oil Council, to encourage local participation in the platform.

CGTSB chairman Khairuddin Abu Hassan said the platform called BOCE MALAYSIA/ASEAN, will function as a "one stop" solution and search for buyers and sellers to create business connections for their trading activities.

"As to recap, our 'one stop center' services facilitate the registration, bidding and completion of documentation for exporters and making it easy to cross border e-commerce," he said.