ECER Eyes European Core Mart

4/17/2009 — BERNAMA
The East Coast Economic Region (ECER) is looking to enhance trade and investment among European investors during its mission to Germany, Italy and the United Kingdom.
Led by the Ministry of International Trade and Industry ( MITI), the mission will focus on the region’s core business of oil, gas and petrochemicals, manufacturing, agriculture and tourism.
ECER in a statement said some noteworthy projects would be promoted by the investment mission from April 19-29.
Amongst the projects are the Kertih Plastics Park, the Gambang Halal Park, the Kemaman Heavy Industrial Park, the Pekan-Peramu Automotive Industrial Park, the Palm Oil Industry Park and the Intergrated Poultry Park.
According to ECER, Germany was an important source of Malaysia’s foreign direct investment (FDI) in 2008, with investments of RM4.4 billion when compared with RM3.7 billion the previous year.
Meanwhile, Italy remained Malaysia’s fifth largest trading partner within the European Union.Bilateral trade between both countries amounted to US$2.22 billion in the first 11 months of 2008.
The United Kingdom is also one of the largest investors in Malaysia, with over 20 billion in investments over the past 30 years.