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KUALA LUMPUR: German companies are being encouraged to partake of Malaysia's Economic Transformation Programme (ETP) by forming a strategic and synergistic relationship with their Malaysia counterparts.
The ETP has 131 entry point projects worth €98.2 billion (RM billion) and 60 business opportunities worth €79.7 billion, Deputy Minister of International Trade and Industry Datuk Jacob Dungau Sagan said.
"Since 92% of investments in the ETP are expected to come from the private sector, I strongly urge German companies to forge a strategic and synergistic relationship with their Malaysian counterparts," he said at the Baden-Wurttemberg Forum on Production and Technology of the Future here on Thursday, Nov 18.
Germany has been one of Malaysia's major source of foreign investments for more than 30 years with more than 300 companies operating here, he added.
He said Malaysia and Germany have also enjoyed a strong bilateral relationship in trade over the last 10 years and despite the effects of the global financial crisis, the trade figures in 2010 shows that it has picked up further.
Between January-September 2010, the total trade between both countries increased by 30.4% to €6.3 billion from the same period last year with exports valued at at €2.8 billion and import at €3.5 billion.
In another development, Jacob said the Malaysia-EU free trade agreement negotiation will commence this December, opening up new and exciting avenues for the businesses of both nations. — Bernama
The ETP has 131 entry point projects worth €98.2 billion (RM billion) and 60 business opportunities worth €79.7 billion, Deputy Minister of International Trade and Industry Datuk Jacob Dungau Sagan said.
"Since 92% of investments in the ETP are expected to come from the private sector, I strongly urge German companies to forge a strategic and synergistic relationship with their Malaysian counterparts," he said at the Baden-Wurttemberg Forum on Production and Technology of the Future here on Thursday, Nov 18.
Germany has been one of Malaysia's major source of foreign investments for more than 30 years with more than 300 companies operating here, he added.
He said Malaysia and Germany have also enjoyed a strong bilateral relationship in trade over the last 10 years and despite the effects of the global financial crisis, the trade figures in 2010 shows that it has picked up further.
Between January-September 2010, the total trade between both countries increased by 30.4% to €6.3 billion from the same period last year with exports valued at at €2.8 billion and import at €3.5 billion.
In another development, Jacob said the Malaysia-EU free trade agreement negotiation will commence this December, opening up new and exciting avenues for the businesses of both nations. — Bernama
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