KUALA LUMPUR, Nov 19 — The European Union (EU) is finalising an eight million euro programme (about RM35 million) to boost economic collaboration with Malaysia, European Commission Ambassador and Head of Delegation to Malaysia Vincent Piket said today.
He added that the EU is putting the final touches for a collaborative agreement between Malaysia and the European Investment Bank, which has allocated a staggering one billion euro (RM4.5 billion) fund to be disbursed to projects in Asia.
The EU will launch new project early next year to bolster EU-Malaysia business collaboration, he said at the opening of the Malaysia-EU Trade Forum hosted by the EU-Malaysia Chamber of Commerce and Industry.
Speaking to reporters later, Piket said the EU proposed to use the eight million euro to finance economic projects in less-developed regions in Malaysia.
“We are interested in stimulating agriculture activities, environmental programmes and human capital development, particularly in the small-and medium-sized enterprises (SMEs) in support of Malaysia's Vision 2020,” he said, adding that he planned to have the allocation by the first quarter of next year.
As to the one billion euro fund, Piket said the fund would not be sub-divided on a country-to-country basis.
“It is essential that Malaysia signs a cooperation agreement with the European Investment Bank and then compete for the fund,” he said.
“I hope Malaysian firms will make good use of the fund to focus on environment-related projects in any sector involving EU and Asean business ventures,” he said.
On a new project to boost EU-Malaysia business collaboration, he said: “We are looking at the services sector. Services is still a frontier sector.
“Since my arrival in Malaysia, I’ve observed an intensive debate both in government and the industry about moving this frontier in terms of market opening and sectoral development.
“What I am proposing today is for EU to become Malaysia’s partner in the drive. On one hand through our Free Trade Agreement negotiations and the other via the new EU project that will promote a Malaysia-EU business dialogue in the services sector.
“It will spell out new business opportunities, support match-making and identify what are the new opportunities,” he said.
The project would promote EU business presence in Malaysia and at the same time respond to the development goals the Malaysian authorities and the industry are promoting.
“This is a win-win situation,” he added. — Bernama
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