The Ministry of Investment, Trade & Industry (MITI) has secured RM46 billion of potential investments, and RM2.4 billion of potential Malaysian exports from its recently concluded Trade & Investment Mission to Germany and France.
The Mission’s delegation – comprising officials from MITI, the Malaysian Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE) – engaged in high-level meetings with European companies in target sectors under the New Industrial Master Plan 2030 such as semiconductor, automotive, aerospace, railway, chemical, medical devices, as well as machinery and equipment.
Among the notable companies engaged during the Mission were X-Fab, Melexis, Infineon Technologies AG, Airbus Group, Schott Glass, BMW, Nexperia, B-Braun, Michelin, Institut de Soudure (IS) Groupe and Simaero.
A statement released by the ministry today (Mar 20) said, these corporations shared their investment plans and interest in establishing strategic partnerships in Malaysia, which will contribute significantly to Malaysia’s economic landscape particularly in terms of technology transfer and creation of high-value jobs in the country. In terms of export potential, YB Minister held discussions with Airbus Group, Deutsche Bahn, Safran, and X-Fab (France) to reinforce their ongoing interest in sourcing from Malaysia.
The mission, led by the Minister of Investment, Trade, and Industry, Tengku Zafrul Abdul Aziz, covered the cities of Berlin and Hamburg in Germany, as well as Paris, France from 11 – 19 March, 2024.
The German leg of the mission was in conjunction withPrime Minister Datuk Seri Anwar Ibrahim’s Official Visit to Germany from 11 – 15 March, 2024.
Tengku Zafrul Aziz said, “These business interactions with German and French companies are part of our strategic engagement to update them on the implementation of the New Industrial Master Plan 2030, our commitment to the speedy execution of projects as well as our business-friendly stance on expanding investments and trade. Our door is always open on hosting companies from Germany and France, two of Europe’s main drivers of economic growth and industrial powerhouse, which will pave a significant pathway towards reindustrialising our nation and revitalising our economy.”
“These engagements are also aimed to enhance Malaysia’s involvement in the global value chain, thus facilitating further integration into international markets. By fostering collaborative relationships with key players in France and Germany, Malaysia seeks to expand its footprint in global trade and solidify its position as a reliable and competitive partner in various industries,” he added.
During the Mission to Paris, France, a significant bilateral meeting took place between the Minister and his French counterpart, H.E. Franck Riester, the Minister Delegate for Foreign Trade, Economic Attractiveness, Francophonie, and French Nationals Abroad.
Both sides engaged in a fruitful exchange of views and updates, aimed at further fortifying bilateral economic collaborations.
Of particular focus were areas of mutual interest, including advancing energy transition initiatives, fostering the adoption of green economy practices, and exploring the potential to recommence negotiations for a free trade agreement with the EU.
Such discussions underscored the shared commitment to enhancing economic cooperation and leveraging opportunities for sustainable growth between Malaysia and France.
In 2023: Malaysia-German bilateral trade increased by 5.9 per cent reaching USD13.91 billion (RM63.46 billion), positioning Germany as Malaysia’s 13th largest trading partner and the largest trading partner within the EU.
In terms of investment, as of 2023, a total of 486 manufacturing projects with German participation worth USD12.08 billion (RM45.69 billion) have been implemented and created 49,591 job opportunities.
Malaysia-France bilateral trade is worth USD3.68 billion (RM16.71 billion), positioning France as Malaysia’s 22nd largest trading partner and the 3rd largest trading partner within the EU. In terms of investment, as of 2023, a total of 137 manufacturing projects with French participation worth USD 1.43 billion (RM 4.84 billion) have been implemented and created 11,344 job opportunities.
