EU ENVOY CALLS FOR MORE MALAYSIA-EU TRADE

By Santhia Thevi Panjanadan

KUALA LUMPUR, Sept 30 (Bernama) -- A European diplomat has called for more trade between Europe and Malaysia and further liberalisation of the service sector for a sustainable growth path amid the current global uncertainties.

Vincent Piket, Ambassador and Head of Delegation of the European Commission to Malaysia, proposed the move against the backdrop of the sovereign debt crisis in the euro zone. The fiscal crisis first surfaced in Greece.

"The crisis has enforced the need for more and higher trade as a solution to move away from the crisis.

"The risks from the fiscal crisis have to be tackled and what we need is to create growth through trade. We should remove barriers to trade," he told Bernama after delivering a talk at Wisma Bernama on Friday.

Piket said European investors continue to see Malaysia as an attractive market and this is evident in the continued bilateral and increased trade engagement between both parties.

"More liberalisation in Malaysia's services sector would certainly stimulate more engagement of European firms locally and spur domestic growth as well," he said.

In a media briefing later, Piket said Greece, in deep financial woes, has adversely affected other European nations but expressed confidence that the European nations would extend the support Greece needs.

Piket said individual countries' strength and potential are still intact.

"If you have a common currency, you must have a common policy, therefore we need to have more integration, a common economic policy," he said.

On the volatility of the euro, the diplomat said it is a strong currency as the European economy is a strong economy.

"The euro won't go away. The euro is there to stay despite market talks and speculations," he added.