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March 29, 2024 -Friday

 
  TRADE AND INVESTMENT MISSION TO GERMANY,THE NETHERLANDS AND BELGIUM,18-20 OCTOBER 2017

Thursday 19/10/2017



KUALA LUMPUR, Oct 19 (Bernama) -- YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry will lead a Trade and Investment Mission to Germany, the Netherlands and Belgium from 18-20 October 2017. Covering Hamburg in Germany, Amsterdam in the Netherlands as well as Brussels in Belgium, this mission is one of Government’s many efforts to strengthen Malaysia’s economic bilateral relations with these countries.

The focus sectors during this mission are electric and electronics (automotive/automation parts), logistics, palm oil and oleo chemicals as well as development and application of industry 4.0 elements in the manufacturing sector.

A delegation of 37 people comprising 10 officials from MITI and agencies, as well as 27 businessmen from 14 organisations will be participating in this mission.

YB Dato’ Sri Mustapa Mohamed will be engaging various stakeholders and businesses including the chambers of commerce and industry as well as meeting industry captains from Germany, the Netherlands and Belgium to further promote Malaysia as their ideal trade and investment partner.

The Minister’s schedule includes business seminars in Hamburg and Amsterdam, Roundtable Meetings with companies, meetings with potential investors as well as visits to Sime Darby Unimills and Brainport Eindhoven high tech campus in the Netherlands. Together with the Malaysian Palm Oil Board (MPOB), YB Minister is also scheduled to jointly co-host a networking dinner for the European palm oil industry players.

YB Dato’ Sri Mustapa will also be meeting his counterpart, the European Commissioner for Trade to discuss the way forward for Malaysia European Union Free Trade Agreement (MEUFTA).

In 2016, total trade with the European Union (EU) increased by 0.4% to RM149.1 billion (€32.5 billion). Malaysia’s exports to the EU rose by 1.2% to RM79.8 billion (€17.4 billion), while imports decreased slightly by 0.5% to RM69.2 billion (€15.1 billion) compared with 2015.

For the period January-August 2017, Malaysia's total trade with the EU amounted to RM113.4 billion (€23.6 billion), an increase of 18.3% from the corresponding period in 2016. Exports valued at RM62.9 billion (€13.1 billion) while imports was at RM50.5 billion (€10.5 billion).

Germany is Malaysia’s largest trading partner from the EU in 2016 with total bilateral trade increased by 7.1% to RM46.1 billion (€10.0 billion). From this total, exports to Germany increased by 13.5% to RM22.3 billion (€4.9 billion), and imports from Germany increased by 1.8% to RM23.4 billion (€5.2 billion).

Total bilateral trade with the Netherlands decreased by 10.9% to RM29.0 billion (€6.3 billion). Malaysia’s exports to the Netherlands decreased by 6.3% to RM22.0 billion (€4.8 billion), and imports dropped by 22.8% to RM7.0 billion (€1.5 billion) compared to 2015.

As for Belgium, total bilateral trade grew by 7.5% to RM6.8 billion (€1.5 billion). Malaysia’s exports to Belgium increased by 11.9% to RM4.2 billion (€913.7 million), and imports rose by 1.2% to RM2.6 billion (€570.2 million) as compared to 2015.

For the period January-August 2017, Malaysia recorded increase in bilateral trade with Germany, the Netherlands and Belgium respectively.

Total trade with Germany amounted to RM34.5 billion (€7.2 billion), an increase of 15.4% from the corresponding period in 2016. Exports valued at RM17.7 billion (€3.7 billion), while imports was at RM16.8 billion (€3.5 billion).

Total trade with the Netherlands rose to RM23.6 billion (€4.9 billion), an increase of 33.0% from the corresponding period in 2016. Exports valued at RM17.8 billion (€3.7 billion), while imports was at RM5.9 billion (€1.2 billion).

Total trade with Belgium amounted to RM5.0 billion (€1.0 billion), an increase of 13.7% from the corresponding period in 2016. Exports valued at RM3.3 billion (€677.2 million) while imports was at RM1.8 billion (€369.2 million).

Germany and the Netherlands are the top two investors from the EU, whilst Belgium is ranked in the top ten. As of December 2016, Malaysia has approved RM69.2 billion (€15.6 billion) of investments with German, Dutch and Belgian participation involving 949 manufacturing projects. These have created more than 140,428 employment opportunities.

About MITI:

The Ministry of Commerce and Industry was established in April 1956 then was renamed as The Ministry of Trade and Industry in February 1972. On 27 October 1990, the Ministry was separated into two Ministries which are; Ministry of International Trade and Industry (MITI) and Ministry of Domestic Trade and Consumer Affairs (KPDN).

MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation's rising status as a globally competitive trading nation. Its objectives and roles are oriented towards ensuring Malaysia’s rapid economic development and help achieve the country's stated goal of becoming a developed nation by 2020.

SOURCE : Ministry of International Trade and Industry

FOR MORE INFORMATION, PLEASE CONTACT: 
Ministry of International Trade & Industry
Strategic Communications Unit
Tel : +603 6200 0082
Fax : +603 6206 4293
Email : allpegkomunikasikorporat@miti.gov.my 

--BERNAMA 

 
 
 

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