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Malaysia’s External Trade Development Corporation (Matrade) plans to increase exports of aerospace products and services to Europe in 2024, in line with the New Industrial Master Plan (NIMP), which aims to increase economic complexity and increase revenues.
In the first 11 months of 2023, Malaysia’s aerospace exports grew by 10.1% to RM5.59 billion. Matrade intends to expand exports to Europe and highlights the region as a major destination for Malaysia’s aerospace exports. Malaysia has exported RM1.23 billion worth of aerospace products to Europe, with the UK, Ireland, Italy, France and Germany being the main destinations.
Matrade plans to collaborate with its French counterparts to participate in aerospace trade events and organise the Malaysia Pavilion at the Farnbrough International Airshow 2024. The company also plans to raise global awareness of the establishment of an aerospace park through the establishment of research, testing and manufacturing areas.
(Source: nst Image source: freepik)
