Malaysia-Germany trade set to grow between 5% to 7%

KUALA LUMPUR: Malaysia-Germany total trade, which touched a high of 10.9 billion  last year, is expected to grow by between 5% and 7% more this year, says Malaysian-German Chamber of Commerce and Industry (MGCC). 

Executive Director, Alexander Stedtfeld, said the total trade would hit the above 11 billion mark by 2016, driven by trade in manufactured products.

He said german imports from Malaysia were the highest ever in 2014 at 6.1 billion while exports to this country were 14.8 billion.

"Currently, the trade surplus is in Malaysia's favour. Following a steady growth trend, German exports to Malaysia should do better in 2015 and the total trade could go above 11 billion next year," he said after presenting results of the ASEAN Business Climate Survey 2015 here on Wednesday.

Steadtfeld said the survey showed that overall, German businesses were positive on the economic outlook in ASEAN.

"In the run-up to the ASEAN Economic Community 2015, German businesses, including the small- and medium-sized enterprises (SMEs), are increasing their engagement in the region, he said. 

On perception of companies based in Malaysia, Stedtfeld said in general, the survey found that German companies were mostly satisfied with the economic situation in the country.

"As a business chamber, we meet German companies every month in Kuala Lumpur and Penang we receive mainly positive. So we are not worry about the future of our companies here and the future of Malaysia, he said.- Bernama