These bilateral trade mission is important for Malaysia as she looks to recover from the ravages of the pandemic, its nice to see European countries like Austria have become active partners with us and have even increased trade volume. According to Ministry of International Trade and Investment, to date, Malaysia’s total trade with Austria surged by 32.2 per cent to RM1.31 billion (USD319.22 million) for the first five months of this year as compared to the corresponding period last year in 2020, this is all despite the pandemic.
The continued engagement between the two nations will further enhance bilateral trade with things looking bright between Malaysia and Austria, particularly in sectors that will propel our footprint in the digital and hi-tech industries.
Already there are several Austrian companies who have expressed interest to invest in Malaysia, seeing the country’s strategic position as a gateway to the Asia Pacific region. Areas that can be explored include in industries such as smart manufacturing, artificial intelligence, aerospace industry, medical devices, and renewable energy.
Austrian high skill tech giant Austria Technologie & Systemtechnik AG (AT&S) was one of the biggest company to select Malaysia as its regional destination the first production plant in Southeast Asia to produce integrated circuit (IC) substrates. The projected total investment value is estimated at RM8.5 billion.