Malaysia gets German support for FTA with EU
Bernama | May 13, 2010
Malaysia Gets German Support For FTA With EU
KUALA LUMPUR, May 13 (Bernama) — Malaysia received German support in its talks to conclude the Malaysia-European Union Free Trade Agreement, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
"Malaysia is in the early stages of negotiating a Malaysia-EU FTA to further facilitate trade and investment ties," he said in a statement issued by the Ministry of International Trade and Industry (MITI) here Thursday.
Mustapa said the European Union (EU) ranked fourth on Malaysia’s trading partners list, and Germany was its largest EU-zone trade partner.
MITI said Mustapa and Brüderle discussed bilateral trade and opportunities in the manufacturing and alternative energy sectors on the sidelines of the 12th Asia-Pacific Conference of German Businesses, which is being held in Singapore from May 13-15, 2010.
The ministry said Germany’s Deputy Minister of Economics and Technology, Rainer Brüderle, also pledged continued technical and development cooperation.
"Brüderle also highlighted possible new areas for cooperation, particularly in green technologies and alternative energy, during the meeting.
"During the meeting, Mustapa him on Malaysia’s New Economic Model reforms and their importance in raising Malaysia’s competitiveness in the region," it said.
Germany is one of the largest foreign investors in Malaysia.
At present, there are about 350 German companies with operations in Malaysia, including some of the biggest German companies.
