Business

M’sia-Germany trade set for 10 per cent expansion

The bilateral trade between Malaysia and Germany is expected to grow at least 10 per cent this year from RM44.038bil registered last year.

Executive Director of the Malaysian-German Chamber of Commerce and Industry (MGCC) Alexander Stedtfeld said signs of recovery in the European debt crisis as well as the vibrancy in the Malaysian economy, being part of booming Asean economies, were the main factors for the optimistic target.

He said the MGCC expected German companies to export more electrical and electronic, pharmaceutical products, chemical products, machineries and automotive to Malaysia this year.

“Malaysian companies will also do better than last year as demand and supply from both nations will drive the growth of trade and other services.

“Malaysia will remain Germany’s important trading partner within Asean,” he told a press conference in Kuala Lumpur yesterday.

Stedtfeld also said Malaysia’s tremendous economic growth in past years would also drive demand for more technology transfer, an area in which German companies were considered experts.

“Malaysia is growing in such a way where German companies have something to offer.” – Bernama, June 21, 2013.

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