Despite being plagued by sovereign debt crisis, European companies are forging ahead with green technology business opportunities in Malaysia.
European-Malaysia Chamber of Commerce and Industry (EUMCCI) chairman David Jones said that European companies were keen on working with local companies, seeing the potential in the relatively young green industry here because of the favourable regulatory framework.
“The companies are not at all affected by the crisis. There is a strong interest to come into Malaysia and we are also surprised at the response,” he said at a briefing yesterday.
He added that Malaysia was European Union’s (EU) second biggest trading partner within Asean, with bilateral trade in goods reaching 31.9 billion euros in 2010.
“With the introduction of new green policies by the Energy, Green Technology and Water Ministry, there is a good chance that we can strengthen bilateral trade in terms of systems, products and technology transfers,” Jones said.
The interest was reflected in the participation of European companies at the International GreenTech and Eco Products Exhibition and Conference Malaysia (IGEM).
There will be about 40 companies from nine European countries exhibiting in the IGEM this year, making EU the single-largest exhibitor.
There were 35 exhibitors from EU when the event was first held last year.
“As the euro decreases in value, clearly companies will become more competitive. They see Malaysia as a potential growth market and they want to participate in that growth,” he said.
When asked whether Malaysia was a stepping stone for the EU to tap into the green technology sector in Asean, Jones said: “If that does happen, then Malaysia really should take the leadership in green technology and become the gateway to the rest of Asean, rather than let it be another country”.
