17 Malaysian Aerospace Companies To Participate In UK Farnborough Airshow

KUALA LUMPUR, July 12 (Bernama) -- Seventeen Malaysian aerospace companies will participate in the Export Acceleration Mission (EAM), beginning July 16, 2018, held in conjunction with the Farnborough International Airshow (FIA) 2018 in the United Kingdom. Organised by the Malaysia External Trade Development Corporation, the signature programme, the country’s third involvement in the FIA, is an a public-private synergy initiative to accelerate the trade of Malaysia's products and services in the aerospace industry. Among the other collaborators involved in the five-day FIA include the National Aerospace Industry Coordinating Office, Malaysia Airports Holdings Bhd, Aerospace Malaysia Innovation Centre, UMW Group and Invest Selangor Bhd. MATRADE Chief Executive Officer Ir. Dr Mohd Shahreen Zainooreen Madros said Malaysia’s rapport as a high-value exporting nation can be elevated if local companies capitalised on the strong demand for products and services in the aerospace industry. “The FIA is one of the best platforms for Malaysian aerospace industry players to network, forge partnerships and do business. "It provides a springboard for Malaysian companies to access world markets,” he said in a statement on Thursday. The EAM aimed to explore collaboration opportunities for Malaysian companies with original equipment manufacturer and Tier 1 & Tier 2 suppliers in the aerospace manufacturing, engineering services, precision parts, components and maintenance, repair and overhaul services from around the globe. “Geographically, we are well positioned and currently, Malaysia is home to more than 230 aerospace companies. “This reflects the dynamic growth of the industry and local companies must collaborate with global players so that they can be part of the world’s supply chain. "Once this materialises, there will also be transfer of knowledge and skills for the industry too,” he added. In Malaysia, the parts & components manufacturing segment was the top performing sector within the aerospace industry. In 2017, Malaysia’s exports of aerospace parts and components recorded an increase of 53.4 per cent to register RM8.5 billion (US$1 = RM4.04) compared with 2016. The top export destinations last year were Indonesia, Singapore, China, the United States and the United Kingdom. Held biennially, the FIA is one of the world's largest aerospace trade exhibition which attracted big names like Airbus, Boeing, Bombardier and Embraer. Ninety eight military delegations from 66 countries and 29 civil delegations from 22 countries are also participating in FIA. -- BERNAMA