PARTAKE IN MALAYSIA'S ETP, GERMAN COMPANIES TOLD

KUALA LUMPUR, Nov 18 (Bernama) -- 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 euros and 60
business opportunities worth 79.7 billion euros, the deputy minister of
international trade and industry, Jacob Dungau Sagan said.

"Since 92 per cent 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,
Thursday.

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 per cent to 6.3 billion euros from the same period last year
with exports valued at at 2.8 billion euros and import at 3.5 billion euros.

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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