KUALA LUMPUR: The European Union (EU) is open to an organized collaboration with Malaysia in the development of digital banking initiatives in order to enhance the interconnectivity between the two parties.
EU Commissioner Johannes Hahn said any kind of form of collaboration is positive in the way that it contributes to more openness and traceability associated with actions that could accept the two governments closer to each other.
“I welcome all the initiatives towards enhancing interconnectivity including the development of digital banks in Malaysia and it has to be based on a legal framework, ” he told Bernama in an exclusive interview in conjunction with his maiden official visit to Malaysia, today.
Previously, Hahn spent nearly an hour meeting with Fund Minister Tengku Datuk Seri Zafrul Abdul Aziz and Financial institution Negara deputy governor Datuk Marzunisham Omar to further discuss the bilateral cooperation between your EU and Malaysia.
Hahn mentioned the main purpose of their visit was to present the NextGenerationEU issuance programme, a bond initiative issued to be able to help the EU economy to recover and become more resilient to global challenges.
“The key element of such so-called green provides is to invest in the green transition initiative to address the effect associated with climate change and also to improve the living situation of the people.
“It is an attractive product and I want to see Malaysia becoming invested in these Western european bonds as an element to further strengthen our own bilateral ties and excellence relationship, ” he added.
Commenting on the effect of the ongoing war between Russia plus Ukraine on the economic climate and the disruption of the global supply string, Hahn noted that it has proven necessary to become less dependent upon one supplier and to focus more on alternative energy efficiency.
This individual said the EU is facing difficult times with the rising energy price which has triggered significant inflation, but the union is trying its best to own it.
“The EU has already introduced plus launched a lot of measures to diversify the energy supply, for example, to increase the transfer of liquified gas by 75 per cent since the outbreak of the war.
“We have also created what we called an energy partnership with several companies from the inside and outside of Europe, ” he said. – Bernama