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NEWS UPDATES Asean Affairs                     30  September 2011

Malaysian trade mission to Europe

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The trade mission led by International Trade and Industry Minister Datuk Seri Mustapa Mohamed to Sweden and Italy has bore fruit, with a few foreign companies expressing interest in investing and exploring collaborations in Malaysia.

For starters, the Foreign Trade Ministry in Sweden will be sending a trade mission to Malaysia and will also be participating in the LIMA airshow in Langkawi.

Mustapa had a 45-minute meeting with his Swedish counterpart, Ewa Bjorling, where they discussed ways to further improve ties and trade.

On the same day, Mustapa visited Palsgaard, a Danish company involved in the emulsifiers business.

This company has bought eight acres of land in the Iskandar Development region and plans to start constructing its plant in December this year. It aims to start operations by January 2013.

"The company has received incentives from the Malaysian Industrial Development Authority (Mida) for their Malaysian operations," said Mustapa.

Meanwhile, a group of Swedish companies based in Singapore have also expressed interest in the Iskandar region and plan to visit Iskandar in the next few months.

Mustapa said there were many things that Malaysia could learn from Sweden, as this is a country which is at the forefront of technology, innovation and renewable energies.

"Presently, there are only 31 Malaysian students studying here. This is certainly a place for more Malaysians to come. Here, they have awards to recognise innovations," said Mustapa.

Separately, Malaysian Green Technology Corp now has direct access to review its Memorandum of Understanding (MoU) with the Italian government in areas of green technology.

Prior to the trade mission, they already had an MoU with the Italian Trade Commission in Kuala Lumpur.



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