KUALA LUMPUR, Oct 18 — Malaysia External Trade Development Corporation (Matrade) will be organising a virtual Export Acceleration Mission (EAM) on the rail industry to the Philippines from Oct 20 to 21, 2021.
In a statement today, Matrade said the EAM would see the participation of 12 Malaysian companies in promoting products and services from various rail industry subsectors such as rolling stock, signalling and telecommunication, power electrification, track works as well as education.
“Despite the Covid-19 pandemic, Malaysian companies’ participation in this programme shows our business community’s determination and high confidence to continue exploring business opportunities with counterparts in the Philippines and strengthen the existing business ties,” it said.
Malaysia’s major exports of railway products to the Philippines from January to August 2021 were railway track fixtures and fittings, valued cumulatively at RM867,140.
Deputy chief executive officer (export acceleration) Sharimahton Mat Saleh said Matrade would continuously facilitate local companies to transcend the impact of the pandemic by providing digital platforms to share their expertise, capabilities, and capacity to supply a wide range of products and services to global markets.
She said Malaysia’s railway sector has improved technologically and modernised to be at par with countries such as the United Kingdom, Singapore, the United Arab Emirates, and China.
“The recent manufacturing of a new ‘green locomotive’ series, which is able to reduce up to 75 per cent of carbon dioxide emission, has proved that Malaysia’s railway sector is committed to developing a train transportation system that is cost-effective, ecologically friendly, and safe,” she said.
According to Matrade, top exports for railway products in 2020 were contributed by parts of rolling-stock vehicles valued at RM21.4 million and signalling devices for railways valued at RM20.2 million.
The top 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 (RM7.7 million), Singapore (RM4.6 million), Vietnam (RM4.5 million) and Australia (RM3.5 million).
Meanwhile, top imports for railway products in 2020 were contributed by parts of rolling-stock valued at RM185.4 million, self-propelled rolling stock (RM116.4 million), and railway passenger and special purpose coaches (RM74.4 million).
“The top imports sources for Malaysia’s railway products in 2020 were South Korea with an import value of RM168.3 million, Canada (RM115.4 million), China (RM53.1 million), Germany (RM38.6 million), and US (RM26.7 million),” it added. — Bernama
