Germany, Malaysia to boost trade

Germany, Malaysia to boost trade

BERLIN: Germany and Malaysia launched a joint economic committee in Berlin over the weekend in what has been described as a landmark move for the rapidly growing Southeast Asian economic powerhouse.

International Trade and Industry Minister Rafidah Aziz led a delegation of more than 70 officials and business people to Germany for the talks. She addressed Swiss and German businessmen earlier this week at seminars on new investment opportunities.

According to Kuala Lumpur news reports last month, the new panel, to meet alternately in the two nations, is Malaysia's first joint economic committee (JEC) with a member of the 25- member European Union (EU). Germany is Malaysia's biggest E.U. trade partner.

German Economics Minister Wolfgang Clement noted at the first meeting Friday that for the Germans, Malaysia was already the second- biggest trade partner in Southeast Asia, but there was still plenty of potential for growth. -- DPA