Germany’s Federal Association of Small and Medium-Sized Businesses (BVMW) has its sights set on Malaysia, with German SMEs recognizing it as a critical trade partner within ASEAN. The BVMW sees promising opportunities for closer ties with Malaysia to ensure shared, sustainable economic growth.
During the Diplomatic Day of German SMEs, hosted by the Malaysian Embassy in Berlin on September 9, 2024, leaders from the Federal Economic Senate of BVMW gathered to explore avenues for bolstering collaboration.
Ninety influential members of the Senate, led by BVMW executive board chairman Christoph Ahlhaus, took part. This Senate, comprising top business executives and entrepreneurs, provides strategic direction for SME growth and advises the German government on policies impacting small and medium enterprises.
Datin Paduka Adina Kamarudin, Malaysia’s ambassador to Germany, emphasized the strong economic relationship between both nations. Germany has been Malaysia’s top ASEAN trade partner for several years and remains the largest EU trade partner for Malaysia.
As of 2023, Germany ranked 13th among Malaysia’s global trading partners, 14th in exports, and 11th in imports. Bilateral trade between the two nations hit $13.9 billion (RM63.45 billion).
Representatives from the Malaysian Investment Development Authority (MIDA) and the Malaysia External Trade Development Corporation (MATRADE) also provided insights on Malaysia’s appeal as a key destination for foreign investment. Their presentations aimed to highlight the advantages of investing in Malaysia, further reinforcing the economic connection.
This event followed Prime Minister Datuk Seri Anwar Ibrahim’s keynote at the BVMW SME Future Day earlier this year, signaling an ongoing effort to deepen economic collaboration between Malaysia and Germany.
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