Malaysia-Germany Trade To Remain Positive This Year

KUALA LUMPUR, Feb 16 (Bernama) -- Trade between Malaysia and Germany is slated to see positive growth this year at around 15 per cent, despite the gloomy global economic outlook, says the Malaysian-German Chamber of Commerce and Industry (MGCC). Its executive director, Alexander Stedtfeld said electrical and electronics goods, machinery, chemical and auto-parts would remain the main goods to buoy the trade expansion between both countries. "Last year, trade between Malaysia and Germany appreciated to 12.0 billion euros from 10.0 billion euros previously," he told the media after a briefing on investment prospects around the Brandenburg Economic Development Board (ZAB) hub, with the opening of the new Berlin Brandenburg Airport. He said Malaysia's exports to Germany in 2011 was around 6.5 billion euros while German exports to Malaysia is estimated at 5.5 billion euros. "It will stay this way, as we do not yet see any special dangers in Europe," Stedtfeld added. He said the eurozone crisis and an investor shift to China has had relatively no impact on trade activities between both countries. However, he noted that investments by both Malaysia and Germany was still very low and the countries are looking at increasing this. Stedtfeld said the latest investment in Malaysia is by a German-based specialist chemical producer, in Selangor, at 15 million euros and preparations for this are being finalised. The German capital's new single airport will be opened in June. It will also open up easier access to eastern Europe, Russia and the Scandinavian markets. Stedtfeld said Malaysia's industries were quite advanced but nurturing higher skills and innovation organically may take time. He added a faster way to gain exposure to the European market can be achieved by venturing as an investor through Germany. "The KNM Group invested 350 million euros in a German engineering company a few years back and is currently the biggest investment by a Malaysian company in Germany. "The interesting thing is that, KNM was able to use that platform to grow internationally," Stedtfeld said. Meanwhile, in the run-up to the opening of the new airport, the ZAB has started a campaign to promote the business district around the new hub in South- East Asian emerging markets. During the campaign, the ZAB will focus on informing aerospace companies about the latest investment prospects which have ensued from the newly formed Mobility and Logistics Cluster at the hub. -- BERNAMA .