The Malaysia External Trade Development Corporation's (MATRADE) Export Acceleration Mission for the machinery and equipment (M&E) sector to Germany has generated potential export sales of about RM55 million.
The virtual mission, which was held from Oct 18 to 22, was participated by 18 Malaysian M&E companies, it said in a statement on Friday (Nov 5).
MATRADE deputy chief executive officer (export acceleration) Sharimahton Mat Saleh said Malaysia is a choice destination by multinational companies to outsource their manufacturing processes and automation solutions in the Southeast Asian region mainly due to availability of high-skill manpower in supporting industries, research and development and engineering design activities.
"Following the supply chain diversification, German companies are looking for machinery parts, components and automation solutions to support their industrial engineering, product design and technology development, as well as business operations across the globe," she said.
Germany is an important market for Malaysia’s M&E exports. In 2020, it was the country's largest export market in Europe, with a value of US$248.81 million and share of 2.6% of total M&E exports.
The country also remained as Malaysia’s largest trading partner in the European Union, while Malaysia maintained its position as the largest trading partner among ASEAN countries for Germany.
Among the M&E products promoted to German buyers at the mission included automation engineering parts, die-casting components, metal stamping machine parts, milling and turning parts, assembly of ventilation systems, wire harness and strapping machines, jigs and fixtures, injection moulding precision tools and components used for various sectors, such as automotive, medical devices, consumables, industrial applications, consumer electronics, office automation, home appliances and aerospace.
The objectives of the mission were to promote Malaysian M&E-related products and services, as well as to position Malaysia as major hub for the M&E sector in the Southeast Asian region.
Source: The Edge Markets