ID :
96881
Sat, 12/26/2009 - 15:20
Auther :
Shortlink :
https://oananews.org//node/96881
The shortlink copeid
GERMAN`S RECOVERY AUGURS WELL FOR TRADE, SAYS ENVOY
By Siti Hawa Othman
KUALA LUMPUR, Nov 26 (Bernama) -- Malaysia considers Germany an important
market and the latter's economic recovery in the third quarter of this year
augurs well for Malaysia in terms of trade.
Malaysian Ambassador to Germany Zakaria Sulong said Germany was
Malaysia's biggest trading partner and biggest source of investment in Europe.
Globally, Germany is Malaysia's ninth biggest trading partner and second
biggest investor after Japan, he told Bernama in Berlin recently.
" Germany is the biggest economy in Europe. Compared to traditional partner
United Kingdom, its growth is more consistent. Its further recovery in
the third quarter is a good sign for Malaysia in terms of trade," he said.
It was reported that Germany's Gross Domestic Product (GDP) grew, on a
quarter-to-quarter basis, by 0.4 per cent in the second quarter and a further
0.7 per cent in the third quarter of 2009.
Meanwhile, bilateral trade between Malaysia and Germany both in the first
nine months of 2009 stood at RM23.47 billion (US$1=RM3.34) against RM28.35
billion registered in the same period of 2008, with exports accounting for
RM10.32 billion and imports at RM13.15 billion.
In 2008, total trade stood at RM37.83 billion with electrical & electronic
products, rubber products, optical & scientific equipment making up the major
export products from Malaysia.
Zakaria said both countries continued to enjoy a strong relationship, having
celebrated the 50th anniversary of diplomatic ties in 2008.
He said Germany was among the 25 countries which started diplomatic ties
with Malaysia as the latter gained independence in 1957.
In terms of investment, he said the largest German investment in Malaysia
was received in 2008 from Q-Cell, to build a new photovoltaic solar-cell factory
with investments of over one billion euro 2008. (1 euro = RM4.91).
In 2008, German investments in Malaysia totalled RM4.43 billion as against
RM3.7 billion in 2007.
Zakaria pointed out that the largest Malaysian investment in Germany today
was the RM600 million Tropical Islands Resort theme park by Tanjong PLC which
opened its doors to the public in late
2004.
Of recent, KNM Groupm through its subsidiary had acquired Germany's Borsig
Bbtev for RM1.669 billion in 2008.
Borsig is a leading process heat exchanger in Europe with a strong market
and technological leadership in the field of waste heat recovery systems and
quenched
coolers.
In terms of tourism, Zakaria said the number of tourists from Germany to
Malaysia saw a huge jump to 111,000 in 2008 from 78,500 arrivals a year
ago.
Germany too is an important destination for education with over 700
Malaysian students studying there, mostly government or MARA-sponsored, in the
fields of science and techno-auto engineering.
" We have signed between three to four MOUs with the universities here to
develop relationship in education," said Zakaria, who admitted that the mastery
of the German language posed problems.
--BERNAMA
KUALA LUMPUR, Nov 26 (Bernama) -- Malaysia considers Germany an important
market and the latter's economic recovery in the third quarter of this year
augurs well for Malaysia in terms of trade.
Malaysian Ambassador to Germany Zakaria Sulong said Germany was
Malaysia's biggest trading partner and biggest source of investment in Europe.
Globally, Germany is Malaysia's ninth biggest trading partner and second
biggest investor after Japan, he told Bernama in Berlin recently.
" Germany is the biggest economy in Europe. Compared to traditional partner
United Kingdom, its growth is more consistent. Its further recovery in
the third quarter is a good sign for Malaysia in terms of trade," he said.
It was reported that Germany's Gross Domestic Product (GDP) grew, on a
quarter-to-quarter basis, by 0.4 per cent in the second quarter and a further
0.7 per cent in the third quarter of 2009.
Meanwhile, bilateral trade between Malaysia and Germany both in the first
nine months of 2009 stood at RM23.47 billion (US$1=RM3.34) against RM28.35
billion registered in the same period of 2008, with exports accounting for
RM10.32 billion and imports at RM13.15 billion.
In 2008, total trade stood at RM37.83 billion with electrical & electronic
products, rubber products, optical & scientific equipment making up the major
export products from Malaysia.
Zakaria said both countries continued to enjoy a strong relationship, having
celebrated the 50th anniversary of diplomatic ties in 2008.
He said Germany was among the 25 countries which started diplomatic ties
with Malaysia as the latter gained independence in 1957.
In terms of investment, he said the largest German investment in Malaysia
was received in 2008 from Q-Cell, to build a new photovoltaic solar-cell factory
with investments of over one billion euro 2008. (1 euro = RM4.91).
In 2008, German investments in Malaysia totalled RM4.43 billion as against
RM3.7 billion in 2007.
Zakaria pointed out that the largest Malaysian investment in Germany today
was the RM600 million Tropical Islands Resort theme park by Tanjong PLC which
opened its doors to the public in late
2004.
Of recent, KNM Groupm through its subsidiary had acquired Germany's Borsig
Bbtev for RM1.669 billion in 2008.
Borsig is a leading process heat exchanger in Europe with a strong market
and technological leadership in the field of waste heat recovery systems and
quenched
coolers.
In terms of tourism, Zakaria said the number of tourists from Germany to
Malaysia saw a huge jump to 111,000 in 2008 from 78,500 arrivals a year
ago.
Germany too is an important destination for education with over 700
Malaysian students studying there, mostly government or MARA-sponsored, in the
fields of science and techno-auto engineering.
" We have signed between three to four MOUs with the universities here to
develop relationship in education," said Zakaria, who admitted that the mastery
of the German language posed problems.
--BERNAMA
