Matrade Hosts Rail Industry Export Acceleration Mission to Philippines | Money
KUALA LUMPUR, October 18 – The Malaysia External Trade Development Corporation (Matrade) will host a Virtual Export Acceleration Mission (EAM) to the Philippines railway industry from October 20 to 21, 2021.
In a statement released today, Matrade said EAM would see the participation of 12 Malaysian companies in promoting products and services from various subsectors of the railway industry such as rolling stock, signaling and telecommunications. , the electrification of energy, works on the tracks as well as education.
“Despite the Covid-19 pandemic, the participation of Malaysian companies in this program shows the determination and great confidence of our business community to continue to explore business opportunities with their counterparts in the Philippines and to strengthen existing business ties. “, did he declare.
Malaysia’s top exports of railway products to the Philippines from January to August 2021 were railway equipment and accessories, valued in total at RM867,140.
Deputy Managing Director (Export Acceleration) Sharimahton Mat Saleh said Matrade will continuously help local businesses transcend the impact of the pandemic by providing digital platforms to share their expertise, capabilities and ability to deliver a wide range of products and services to global markets.
She said Malaysia’s rail sector has improved technologically and modernized to be on par with countries such as the UK, Singapore, the UAE and China.
âThe recent manufacture of a new series of green locomotives capable of reducing carbon dioxide emissions by up to 75% has proven that the Malaysian rail industry is committed to developing a cost-effective and environmentally friendly rail transport system. the environment. , and safe, âshe said.
According to Matrade, the main exports of railway products in 2020 were brought by rolling stock vehicle parts valued at Ringgit 21.4 million and signaling devices for railways valued at Ringgit 20.2 million.
The main export destinations for Malaysia’s railway products in 2020 were the United States (US), with an export value of RM11.3 million, followed by China (RM 7.7 million), from Singapore (4.6 million RM), Vietnam (4.4 million RM). 5 million) and Australia (3.5 million RM).
Meanwhile, the main imports of railway products in 2020 were brought by parts of rolling stock valued at RM185.4 million, self-propelled rolling stock (RM116.4 million) and passenger rail cars. and for special use (74.4 million ringgit).
âThe main import sources of Malaysian railway products in 2020 were South Korea with an import value of RM 168.3 million, Canada (RM 115.4 million), China (RM 53.1 million) of RM), Germany (38.6 million RM) and the United States. (RM26.7 million), âhe added. – Bernama