KUALA LUMPUR: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the trade relationship between Malaysia and France has been steadily increasing over the past 25 years.
He noted that French companies contribute significantly especially in the electronics, aeronautics and defence sectors.
French small and medium enterprises (SMEs), he pointed out, are also very much active in Malaysia while on the other hand, Malaysian companies have various investments in the tourism sector in France as the gateway to the European market.
He said the trade level had manifested to the extent that the Malaysian French Chamber of Commerce and Industry (CCIFM) had been arranging networking events in France on a regular basis.
“The yearly average total trade between Malaysia and France stands at a healthy balance of five billion euros (RM22.83 billion).
“French and Malaysian business partners have put in tremendous efforts to make sure that the trade balance is maintained.
“Previously, our Ministry of Defence procured many defence asset to be fully utilised in this country and the balance is very questionable because the trade balance was in favour of France, but now we have a good balance of trade,” he said in his speech during the Malaysian French Chamber of Commerce and Industry (CCIFM) 26th Gala Dinner here this evening.
He said the French contributed not only in investment but transfer of knowledge, technology and offsets programmes in which French companies have shown great interest, directly helping the Malaysian economy.
Zahid also noted that Malaysia, with over 30 million middle class consumers, has a domestic market that holds a lot of opprtunities for quality products, for which France is famous.
At the same time, with over 25 million tourists visiting Malaysia every year, it represent a significant and potential market size for French inbound tourists to visit the country, said Zahid.
Malaysia, he added, must also be considered by the French as the best entry point to the Asean and Asian markets because of Malaysia’s historical central position in Asia, in which the nation started its trade history way back during the time of the Malacca Sultanate.
He added that Malaysia offers good facilities and infrastructure, with very business-friendly policies which are updated constantly to help companies do their activities with many government agencies such as the Malaysia External Trade Development Corporation (Matrade) and TalentCorp to assist them.
Zahid said the government has opened up its policies by inviting experts, specialists and professionals to work in Malaysia through companies which invest in the country.
“We have set seven working days as the time required for approval to be given to professionals and skilled workers by the Immigration Department and we have met the target.
“We have 97.6 per cent approval rate within seven working days, proof that we are efficient in opening up for professionals to work in Malaysia,” he said.
Also present at the event were French Ambassador to Malaysia Christophe Penot and CCFIM president Richard Fostier.