MARKET DEVELOPMENT
Matrade Projects Malaysia-EU Trade To Be At RM120 BLN This Year
Matrade Projects Malaysia-EU Trade To Be At RM120 BLN This Year
23/10/2013 (Bernama) - The Malaysia External Trade Development Corporation (Matrade), is optimistic of about RM120 billion in total trade between Malaysia and the European Union (EU)this year, amid the financial crisis in the region.
Senior Director Strategic Planning Division Susila Devi said in 2012, Malaysia and the EU recorded total trade of RM127.7 billion, mainly contributed by exports of electrical and electronics and rubber products.
"For the first eight months of this year, the total trade stood at about RM87 billion.
"Exports from Malaysia to the EU was about RM41 billion and imports from the EU to Malaysia at about RM45 billion," she told a press conference here on the sidelines of a seminar on "Opportunities in Europe: Insight Into Europe-Your Next Big Leap".
Susila said with regards to trade, strong ties between Malaysia and Europe in the realm of trade and investments, had long been established and growing steadily.
She also said despite the ongoing economic problems in the Eurozone, the fundamentals of many of the economies remained intact, providing Malaysian companies with constant trade and cross-border investment opportunities.
"Also, despite the highly challenging global economic conditions or perhaps because of it, Malaysian companies continued to show interest in venturing abroad to seek greater market opportunities.
"The objectives vary, ranging from an interest to acquire technology, brands and marketing capabilities, as well as increasing efficiency, access resources and markets," she added.
Commenting on the EU sectors Malaysian companies can invest in, Susila said there were various segments of industries such as palm oil refining, oil and gas, power plants and Islamic finance.
"Europe offers numerous business and investment opportunities in various industries. It also includes information communication technology (ICT), chemicals, automotives, renewable energy, logistics, agro food processing, pharmaceuticals and financial services," she added.
The seminar organised by Matrade today is an initiative to highlight business and investment opportunities in Europe for Malaysian companies.
The seminar is part of the continuous efforts undertaken by Matrade to update Malaysian companies on the changing business environment and market opportunities, especially in countries such as Germany, the Netherlands, Switzerland and Luxembourg.
Senior Director Strategic Planning Division Susila Devi said in 2012, Malaysia and the EU recorded total trade of RM127.7 billion, mainly contributed by exports of electrical and electronics and rubber products.
"For the first eight months of this year, the total trade stood at about RM87 billion.
"Exports from Malaysia to the EU was about RM41 billion and imports from the EU to Malaysia at about RM45 billion," she told a press conference here on the sidelines of a seminar on "Opportunities in Europe: Insight Into Europe-Your Next Big Leap".
Susila said with regards to trade, strong ties between Malaysia and Europe in the realm of trade and investments, had long been established and growing steadily.
She also said despite the ongoing economic problems in the Eurozone, the fundamentals of many of the economies remained intact, providing Malaysian companies with constant trade and cross-border investment opportunities.
"Also, despite the highly challenging global economic conditions or perhaps because of it, Malaysian companies continued to show interest in venturing abroad to seek greater market opportunities.
"The objectives vary, ranging from an interest to acquire technology, brands and marketing capabilities, as well as increasing efficiency, access resources and markets," she added.
Commenting on the EU sectors Malaysian companies can invest in, Susila said there were various segments of industries such as palm oil refining, oil and gas, power plants and Islamic finance.
"Europe offers numerous business and investment opportunities in various industries. It also includes information communication technology (ICT), chemicals, automotives, renewable energy, logistics, agro food processing, pharmaceuticals and financial services," she added.
The seminar organised by Matrade today is an initiative to highlight business and investment opportunities in Europe for Malaysian companies.
The seminar is part of the continuous efforts undertaken by Matrade to update Malaysian companies on the changing business environment and market opportunities, especially in countries such as Germany, the Netherlands, Switzerland and Luxembourg.