EU FUND AIMS TO BOOST MSIA-EU BUSINESS COOPERATION

BY TENGKU NOOR SHAMSIAH TENGKU ABDULLAH

KUALA LUMPUR, Nov 23 (Bernama) -- The European Union (EU) has allocated
600,000 euros (RM2.4 million) to further boost Malaysia-EU business cooperation,
says Ambassador and Head of Delegation of the European Commission to Malaysia
Vincent Piket.

"We are about to start a new strategic project for promoting
business-to-business cooperation in the services sector, with emphasis on
financial services and environmental and green-technology services.

"I expect this new project to serve as a major boost to Malaysia-EU
business cooperation in priority areas for Malaysia's new economic model," he
told Bernama in an interview.

He said the project would be implemented by the EU-Malaysia Chamber of
Commerce and Industry, in partnership with the Chambers of Commerce of
EU member states and Malaysian partners, including the Federation of
Malaysian Manufacturers (FMM).

The EU had earlier presented, to the World Trade Organisation (WTO), trade
facilitation projects it had financed between 2006 and 2008.

The EU spent 1.01 billion Euros on 95 capacity building and technical
assistance projects which had helped simplify import and export procedures and
boosted the ability of developing countries to benefit from trade and open
global markets.

Piket said the projects were part of an overall commitment by the European
Union to aid trade.

More than 7 billion Euros are disbursed annually to fund projects in Asia
(21 per cent), Africa (18 per cent), Latin America and the Caribbean (18 per
cent), Middle East (four per cent), Oceania (two per cent) as well as non-EU
Europe, including the Balkans and Commonwealth of Independent States(37 per
cent).

Piket also said between 2006 and 2009, the EU funded 10 trade promotion and
business facilitation projects in Malaysia with a total EU contribution of 4
million euros.
-- BERNAMA