KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) has embarked on a Trade and Investment Mission to European Union (EU) countries, namely Germany, the Netherlands and Belgium in an effort to further strengthen ongoing bilateral trade relations. Together with the Malaysian Palm Oil Board (MPOB), Mustapa is also scheduled to jointly co-host a networking dinner for the European palm oil industry players. According to data provided by MITI, Malaysia's total trade with these EU countries grew by 18.3 per cent to RM113.4 billion (€23.6 billion) within the first eight months of the year. Exports during the period were valued at RM62.9 billion (€13.1 billion) while imports was at RM50.5 billion (€10.5 billion). Within the EU, Germany has become Malaysia’s largest trading partner as of the end of 2016 with total bilateral trade increasing by 7.1 per cent to RM46.1 billion (€10.0 billion).

Source: New Strait Times October 18, 2017 07:30 UTC