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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

25/05/2004

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Bernama

CATEGORY

HEADLINE

Romania Welcomes Malaysian Companies To Set Up Pal
KUALA LUMPUR, May 24 (Bernama) -- Romania has requested Malaysiancompanies to set up palm oil processing plants in its country, deputyMinister of International Trade and Industry, Datuk Ahmad Husni Hanadzlahsaid Monday.

He said this was conveyed by the head of Asia Pacific division, RomanianMinistry of Economy and Trade Mihai Burghel, who is leading a 17-membereconomic and trade mission to Malaysia from May 23-25.

"They welcome Malaysians to invest. Following their accession into theEuropean Union (in 2007), they feel this is the right time for us toinvest there and for it to be a gateway into the EU," he told Bernama thisafter a courtesy call by the Romanian delegation at his office here today.

The trade mission is to promote glass industry products, ball bearingproducts, timber and wood products, equipment for the oil processingindustry and lighting equipment.

Ahmad Husni said the meeting had discussed on cooperation between bothcountries such as in expanding bilateral trade and commercial exchanges,on relevant economic issues and to enhance relationship.

He said Romania had voiced its keenness to share on the country'sprogressive ICT sector, having joint-ventures in infrastructure and alsoin having working relationships in banking, especially between EXIM banks.

Industrial sectors of interest to Romania include the rubber industry,palm oil and petrochemicals.

Currently, he said investments between both countries were still small andRomanian interest in Malaysia accounted for less than RM1.9 million, withPesaka Astana Sdn Bhd as its sole agent for truck manufacturer Roman SA.

On the other hand, 18 Malaysian companies are active in Romania with totalcapital amounting RM2.5 million, involving in manufacturing (74 percent),construction (13 percent) and agriculture (13 percent).

Bilateral trade is to Malaysia's favour at RM32.2 million fromJanuary-March 2004.

Malaysia exports polyacetals and polycarbonate, margarine and shortening,palm oil, automatic data processing equipment, base metals and importsunmilled wheat and meslin, furniture and parts, flat-rolled products ofiron or non-iron, veneers, plywood, particled boards and automatic dataprocessing equipment.

During the meeting, Ahmad Husni had also pointed out one area that hadhindered trade, that was in the formation of a Business Council.

He said the National Chamber of Commerce and Industry (NCCIM) and theChamber of Commerce and Industry of Romania had signed a cooperationagreement in March 1996 with regard to this.

"However, todate, nothing has surfaced," he said.