MEDIA RELEASE TRADE AND INVESTMENT MISSION TO EUROPE (GERMANY, ITALY, SPAIN) 14 – 22 OCTOBER 2014 Y.B. Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, will lead a Trade and Investment Mission to Europe from 14 – 22 October 2014, covering four major cities, namely Dusseldorf and Frankfurt, in Germany; Milan, in Italy and Madrid, in Spain. The mission is aimed at promoting trade and investment opportunities in Malaysia, strengthening business networking and establishing collaborative ventures. In Madrid, Y.B. Dato’ Sri Mustapa Mohamed will meet with several Spanish Cabinet Ministers namely, Mr. Jaime García-Legaz, Secretary of State for Trade, Madam Ana María Pastor Julián, Minister of Public Works & Transport Mr. José Manuel Soria López, Minister of Industry, Energy & Tourism and Mr. José Manuel García Margallo, Minister of Foreign Affairs & Cooperation to discuss bilateral issues. Y.B. Dato’ Sri Mustapa Mohamed will hold roundtable meetings and oneto-one discussions with several top business leaders and captains of industry of the three countries. The Minister will address the German and Spanish business communities during seminars on “Business Opportunities in Malaysia” which will take place in Dusseldorf, Germany and Madrid, Spain. In Milan, Y.B. Dato’ Sri Mustapa Mohamed will be briefed on the progress of the construction works for Malaysia’s Pavillion for Expo Milan. The Expo Milan is scheduled to be held from May to October 2015 and the Ministry of International Trade and Industry has been entrusted by the Cabinet to be the coordinating agency in line with the Government’s focus on promotion of trade and investment at the Expo. Germany, Italy and Spain are important trading partners and sources of foreign investment for Malaysia. In 2013, the three markets accounted for 38.2% of trade with European Union. Until 2013, realized investment projects from these countries amounted to Euro 6.58 billion (RM27.63 billion). Among the EU countries, Germany was Malaysia’s largest trading partner in 2013, with total trade amounting to Euro 9.4 billion (RM39.4 billion) or 29.0% of Malaysia’s trade with the EU. Germany was Malaysia’s 2nd largest export destination in the EU, with exports recorded at Euro 3.9 billion (RM16.5 billion) or 25.3% of Malaysia’s exports to the region. Germany was also Malaysia’s largest source of imports in the EU, with imports valued at Euro 5.5 billion (RM22.9 billion) or 32.5% of total import from the EU. In 2013, major exports to Germany include electrical and electronic products, optical and scientific equipment, rubber products, crude rubber and other manufacturers. Meanwhile, major imports include electrical and electronic products, machinery, appliances and parts, transport equipment, chemicals and chemical products and optical and scientific equipment. Italy was Malaysia’s 5th largest trading partner in the EU in 2013, with total trade amounting to Euro 2.2 billion (RM9.1 billion) or 6.7% of Malaysia’s trade with the EU. Exports to Italy amounted to Euro 0.8 billion (RM3.2 billion) or 4.9% of Malaysia’s exports to the EU, making Italy Malaysia’s 5th largest export market in the EU. Italy was also Malaysia’s 4th largest source of imports from the EU with imports valued at Euro 1.4 billion (RM5.9 billion) or 8.3% of total imports from the EU. In 2013, major exports to Italy included palm oil, electrical and electronic products, machinery, appliances and parts, rubber products and refined petroleum products. Meanwhile, major imports include machinery, appliances and parts, electrical and electronic products, chemicals and chemical products, transport equipment and optical and scientific equipment. Malaysia’s total bilateral trade with Spain in 2013 amounted to Euro 791 million (RM3.32 billion), or 2.4% of Malaysia’s trade with the EU, making Spain Malaysia’s 7th largest trading partner in that bloc. Being Malaysia’s 7th largest export market in the EU, total exports to Spain was 2.2% of Malaysia’s total exports to the EU, recorded as Euro 347 million (RM1.45 billion). Meanwhile, Spain was Malaysia’s 8th largest source of imports from the EU with a value of Euro 445 million (RM1.86 billion), contributing 2.6% of total imports from the EU. In 2013, major exports to Spain included chemicals and chemical products, rubber products, palm oil, electrical and electronic products, and machinery, appliances and parts. Meanwhile, major imports from Spain in 2013 included chemical and chemical products, metalliferous ores and metal scrap, machinery, appliances and parts, iron and steel products and transport equipment. The mission delegation comprises officials from Ministry of International Trade and Industry (MITI), Malaysian Industrial Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE), Small and Medium Enterprises (SME Corp) and also representatives from the private sector and State Governments. Ministry of International Trade and Industry 13 October 2014