MSIA AND NETHERLANDS ENJOY CORDIAL TIES DESPITE REDUCED TRADE

BY SITI HAWA OTHMAN

KUALA LUMPUR, Dec 2 (Bernama) -- Malaysia and the Netherlands enjoy cordial
ties although the current economic turmoil has had an impact on bilateral trade,
said Dr Fauziah Mohamad Taib, Malaysian Ambassador to the Netherlands.

"Trade has reduced 20 per cent due to recession," she told Bernama after a
palm oil forum held in the Hague recently.

Bilateral trade between Malaysia and the Netherlands was on an increasing
trend before the recession set in.

Malaysia's Trade Commissioner to the Netherlands Rusiah Mohamed said
bilateral trade between January and September 2009 stood at RM14.903 billion,
down from RM20.567 billion recorded in the same period in 2008. (US$1=RM3.38)

For the first nine months of this year, exports slipped to RM12.66
billion against RM17.59 billion registered between January and September 2008,
she said.

Total trade for 2008 totalled RM27.13 billion, of which exports accounted
for RM23.443 billion and imports, RM3.687 billion.

Electrical and electronic products accounted for the bulk of the exports,
followed by palm oil, chemicals & chemical products, optical & scientific
equipment and, sawn logs and sawn timber.

In terms of investment, Dr Fauziah said there was an estimated 300 Dutch
companies operating in Malaysia while Malaysian companies investing in the
Netherlands included the likes of IOI Corporation and Sime Darby which owned
palm oil refineries.

Petronas Marketing, meanwhile, distributes and markets Petronas base oils in
this European market.

Dr Fauziah, who took office in August 2008, said there were approximately
300 Malaysian students pursuing tertiary education in the country once known as
the "land of the windmills".
-- BERNAMA


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