KUALA LUMPUR, June 15 (Bernama) -- YB Datuk Darell Leiking, Minister of International Trade and Industry will lead the Malaysian delegation to the 53rd International Paris Air Show, Le-Bourget, France from 17 to 19 June 2019.

YB Minister Leiking will be accompanied by officials from the Ministry of International Trade and Industry, National Aerospace Industry Coordinating Office (NAICO), Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE) as well as representatives from Malaysian companies.

At the Paris Air Show, YB Minister Leiking is scheduled to attend the Official Opening Ceremony of the 53rd International Paris Air Show, to officiate Malaysia Pavilion, as well as business meetings with the OEM and Tier 1 companies. YB Minister will also deliver opening remarks at the Malaysia-France Seminar which will be jointly organised by MATRADE and the French Aerospace Industries Association (GIFAS).

Malaysia’s participation at the 53rd Paris Air Show is significant as a platform for Malaysian aerospace companies to discover the aerospace market’s latest innovations and global industry development. MATRADE is spearheading the participation of 15 Malaysian companies offering various products and services in the aerospace industry’s supply chain. Apart from attracting quality investments that will spur the development of the local supply chain, Malaysia aims to increase its contributions as a critical supplier for aircraft parts and components to the OEMs and Tier 1 companies.

The Government views the aerospace industry as a critical sector that offers abundant opportunities for the transfer of advanced technologies in engineering, electronics, composite materials, system integration, MRO and industry-led Research & Technology. This is also reflected in the Eleventh Malaysia Plan (RMK-11) where the aerospace industry has been identified as one of Malaysia’s key strategic focus sector.

In 2018, the Malaysian aerospace industry recorded total revenue of RM14.4 billion. The industry managed to maintain its positive growth since the implementation of the Blueprint 2030 led by the National Aerospace Industry Coordinating Office (NAICO), MITI. About 24,500 highly skilled workers are currently serving the industry.

The aerospace manufacturing sub-sector remained the main contributor to the industry with 48% revenue and it has recorded the highest value of RM6.97 billion, an increase by 8.3% compared with 2017. The MRO sector recorded RM6.68 billion representing 46% of the total revenue.

Aerospace exports also recorded the highest value of RM8.48 billion compared to previous years with an increase of 20.7% from 2017. Among the locally manufactured aerospace products for export include Fan Cowl, Fan Casing, Thrust Reverser, Forward Leading Edge, Aircraft Door, Avionics Equipment and Carbon Brakes. In terms of investments, eleven (11) aerospace projects with total investments of RM816.3 million were approved in 2018 of which 41% were foreign investments. The approved projects are expected to generate a total of 2,442 employment opportunities.

The quality investments and strong market demand have also accelerated the local supply chain. Currently, Malaysia is one of the critical suppliers for aircraft structure components mainly for Airbus and Boeing. Malaysia has become an important source for composite and metallic components for the OEMs, led by local champions namely Composites Technology Research Malaysia (CTRM) Sdn. Bhd., SME Aerospace Sdn. Bhd. and UMW Aerospace Sdn. Bhd.

Ministry of International Trade & Industry
14 June, 2019

About MITI:
MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation's rising status as a globally competitive trading nation. Its objectives and roles are oriented towards ensuring Malaysia’s rapid economic development and help achieve the country's stated goal of becoming a developed nation by 2020.

Source: Ministry of International Trade & Industry

FOR MORE INFORMATION, PLEASE CONTACT:
Ministry of International Trade & Industry
Strategic Communications Unit
Tel: +603 6200 0082
Fax: +603 6206 4293
E-mail: allpegkomunikasikorporat@miti.gov.my

--BERNAMA