EU-Malaysia Bilateral Trade To Be Higher This Year, Says Piket

KUALA LUMPUR, April 19 (Bernama) -- The European Union-Malaysia bilateral trade is expected to be higher this year compared to the 31.9 billion euros (1 euro = RM4.31) recorded last year, Ambassador and Head of European Union Delegation to Malaysia, Vincent Piket said Tuesday.

Exports from EU to Malaysia amounted to 11.2 billion euros in 2010, while Malaysia's exports to the EU stood at 20.7 billion euros.

Piket said demand for green component products were bound to increase this year as the EU has unilaterally committed itself to a 20 per cent reduction in carbon dioxide (CO2) emission by 2020.

As the EU vigorously promotes biomass as an alternative fuel and as a resource for eco-products, demand for solid biomass fuel in Europe is expected to double by 2020, he said at the launch of EU-Malaysia Biomass Entrepreneurs Nurturing Programme (EU-BENP), here.

Piket said 44 small and medium enterprises (SMEs) with market value of about RM55 million have been selected under the programme, which will be managed by EU-Malaysia Biomass Sustainable Production Initiative (Biomass-SP).

Biomass-SP is one of 30 projects selected across Asia last year under the EU's Switch Asia Programme, that funds projects for sustainable consumption and production.

Technical Advisor at Biomass-SP Datuk Leong Kin Mun said the nurturing programme was aimed at helping the SMEs to gain market and financing access and to establish partnership such as export-import joint venture and technology collaboration with the EU companies through business matching facilities provided under the programme.

Leong said the selected SMEs will also receive complementary environmental and business coaching in selected areas relevant to biomass supply and utilisation activities.

He said to support the programme, the government is providing up to RM4 million in grants to the SMEs for research & development purposes with local universities as well as soft loans.

Chairman of Biomass-SP, Tan Sri Ahmad Zaharuddin Idrus said the launch of the EUM-BENP has also kick started a series of nine Capacity Building Programmes, which will be organised throughout this year and next year on subjects relevant to biomass commercialisation. --BERNAMA

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