German SMEs keen on exploring collaboration with Malaysia
15 Sep 2024
Recognising Malaysia as a key trading partner for Germany in Asean, Germany’s Federal Association of Small and Medium-Sized Businesses (BVMW) is eager to explore new collaboration opportunities with the country.
By leveraging each other’s strengths, both nations will be able to ensure their respective long-term and sustainable growth, as highlighted during the recent Diplomatic Day of German Small and Medium Enterprises (SMEs).
Hosted by the Malaysian Embassy in Berlin on September 9 for Federal Economic Senate of BVMW SME Association members, the event provided a platform for diplomatic and business communities to convene and exchange ideas to enhance relations between Malaysia and Germany.
According to a statement from the embassy, the event was attended by 90 members of the BVMW Federal Economic Senate, led by BVMW federal executive board chairman Christoph Ahlhaus.
The Federal Economic Senate is an influential body within the BVMW that comprises high-level executives, entrepreneurs, and business leaders who represent SMEs’ interests in Germany.
It plays a critical role in shaping economic policy, advising the government and providing strategic direction for the growth of German SMEs.
Malaysia’s ambassador to Germany Datin Paduka Adina Kamarudin said Malaysia has been Germany’s largest trade partner in Asean over the past few years, and has continued to be Malaysia’s largest trading partner in the European Union.
In 2023, Germany was Malaysia’s 13th global trading partner, 14th export destination, and 11th largest import source.
According to the embassy, the total trade value between Malaysia and Germany stood at US$13.9 billion (RM63.45 billion).
During the event, the Malaysian Investment Development Authority and Malaysia External Trade Development Corporation officials from its Frankfurt and Munich offices also held a briefing to promote Malaysia as an attractive destination conducive to foreign investments.
The event was a follow-up to Prime Minister Datuk Seri Anwar Ibrahim’s visit to Germany in March, where he delivered the keynote address at BVMW SME Future Day 2024.
Source: Bernama
