<\/p>\n\n\n\n
By Voon Miaw Ping<\/strong><\/p>\n\n\n\n KUALA LUMPUR, Dec. 3 (Bernama) — Italy\u2019s Ambassador to\nMalaysia Cristiano Maggipinto said trade between Italy and Malaysia is more\nstable than Italy\u2019s trade with other countries of the Association of the\nSoutheast Asian Nations (ASEAN) this year despite the setbacks caused by\nthe COVID-19 pandemic.<\/p>\n\n\n\n \u201cTrade between Italy and Malaysia had decreased in 2020 but\nthe decrease is much lesser compared to (Italy’\u2019s) trade with other ASEAN\ncountries,\u201d he said in an exclusive interview with Bernama, here.<\/p>\n\n\n\n He said Italian data showed that from January to August this\nyear, Italy-Malaysia trade volume has only decreased by 7.6 per cent compared\nto an average decrease of 13.1 per cent in trade volume with other ASEAN\ncountries.<\/p>\n\n\n\n He pointed out that although transactions across most\nsectors showed a decline, Italy\u2019s import of Malaysian palm oil was unaffected\nby the pandemic.<\/p>\n\n\n\n On the contrary, he said, the import of Malaysian palm oil\nhad increased.<\/p>\n\n\n\n For the first eight months of this year, he said Italy had\nimported palm oil worth EUR335.7 million (RM1.6 billion) from Malaysia.<\/p>\n\n\n\n In 2019, Italy-Malaysia bilateral trade volume reached\nEUR2.4 billion (RM11.84 billion).<\/p>\n\n\n\n He said Italy and Malaysia two-way trade has been\ngrowing significantly, especially in the past few years, where for the period\nof 2015 to 2019, the two-way trade volume had increased by 33 per cent. <\/p>\n\n\n\n He added that more Italian companies had also increasingly\nchosen Malaysia as a hub for their operation in this region. This was\nreflected in the number of Italian companies registering in Malaysia, which had\ndoubled from about only 50 companies in the past five years to 110 companies\ncurrently. <\/p>\n\n\n\n Most of these companies are involved in the oil and gas,\npetrochemical, aerospace, food processing, and services sectors.<\/p>\n\n\n\n Maggipinto was also optimistic on the economic and trading\noutlook for both countries in 2021, adding that as the world recovers from the\npandemic, Italy and Malaysia should work to further tap the economic potential\nbetween them.<\/p>\n\n\n\n \u201cIn our opinion, this showed that the two countries are\ncooperating very well. These two economies are really complementary, based on\nsmall and medium enterprises (SMEs) and also manufacturing.<\/p>\n\n\n\n \u201cAnd looking forward to 2021, we have reason to be\nmoderately optimistic, that the two economies will rebound, and even more\npossibilities to (strengthen) trade,\u201d he said.<\/p>\n\n\n\n Malaysia’s exports to Italy include palm oil, rubber,\nelectric and electronics equipment, tin, iron, and steel.<\/p>\n\n\n\n Among Italy\u2019s main exports to Malaysia are machinery,\naircraft and spacecraft, leather goods, and automotive.<\/p>\n\n\n\n — BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":" By Voon Miaw Ping KUALA LUMPUR, Dec. 3 (Bernama) — Italy\u2019s Ambassador to Malaysia Cristiano Maggipinto said trade between Italy and Malaysia is more stable than Italy\u2019s trade with other countries of the Association of the Southeast Asian Nations (ASEAN) this year despite the setbacks caused by the COVID-19 pandemic. \u201cTrade between Italy and Malaysia had […]<\/p>\n","protected":false},"author":29,"featured_media":104348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/104344"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=104344"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/104344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/104348"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=104344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=104344"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=104344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}