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France Seeks To Diversify Investments In Malaysia

News From : DagangHalal.com (08 Jun 2010)

KUALA LUMPUR, June 8 (Bernama) — France is looking to further diversify its investment in Malaysia, including services and halal product development, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

He said the French government is also seeking Malaysian cooperation on Halal certification.

This he explained, is to enable, the country’s halal products to enter the Malaysian market.

“Some French companies have their owned halal certifications. The issue right now, is to match that certification standard, to what is issued by the Malaysian government.

“In order to promote French agriculture and halal products into Malaysia, this issue needs to be resolved in the near future,” he told reporters after a bilateral meeting with French Foreign Trade Minister, Anne-Marie Idrac here, today.

Mustapa also said that France-based company Glon Grope, plans to set up an integrated poultry project, in the East Coast Economic Region (ECER).

He said the project would involve an initial investment of RM60 million.

“Europe has a very large Muslim population. We hope through the Glon Grope venture into Malaysia, it will help local products enter the European markets,” he added.

Meanwhile, Idrac said there are 250 French companies having operations in Malaysia at present.

“This visit is a follow-up to that by Malaysian Prime Minister Datuk Seri Najib Tun Razak last year to France. We are happy about our trade and want to increase and diversify into other sectors,” she explained.

As of 2009, French companies invested a total of US$0.5 billion in 83 manufacturing projects in Malaysia.

In 2009, France was Malaysia’s fourth largest trading partner within the EU27 countries. It accounted for 11.3 per cent of Malaysia’s total trade of US$31.4 billion with the group.

— BERNAMA

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