BUSINESS

MALAYSIA TO SHOWCASE RAIL EXPERTISE AND CAPABILITIES IN GERMAN TRADE FAIR

03/04/2024 12:33 PM

KUALA LUMPUR, April 3 (Bernama) -- Malaysia’s latest innovations, expertise and capabilities in the rail industry will be showcased at the InnoTrans 2024, the leading trade fair for transport technology in Germany this September, Malaysia External Trade Development Corporation (MATRADE) said in a statement today.

Deputy chief executive officer (export acceleration) Abu Bakar Yusof said the agency will demonstrate its commitment to driving technological advancements and sustainable solutions in the global rail sector by sending a delegation that includes key players in the industry, government agencies, and trade associations.

He said a distinguishing feature of Malaysia’s rail industry was its emphasis on sustainability, which is underscored by its embrace of green technologies and eco-friendly practices.

“These efforts align with MATRADE’s initiative in facilitating Malaysian exporters to embrace and adopt sustainability and eventually contribute to global efforts to combat climate change,” Abu Bakar said.

Therefore, MATRADE as organiser of Malaysia’s participation in the event invites Malaysian companies and related organisations in the rail industry to join the Malaysian Pavilion at InnoTrans 2024.

The agency will host business-to-business meetings and facilitate signing ceremonies, showcasing Malaysia as a reliable international partner in rail engineering, procurement, construction and commissioning.

Meanwhile, MATRADE Frankfurt trade commissioner Mohamad Termizi Piee highlighted Germany’s potential as it is working towards modernising rail infrastructure, improving services and promoting sustainability with ambitious 2030 targets.

“Market growth prospects are significant, fuelled by a growing demand for rail services due to a push for eco-friendly transport, infrastructure improvements and new technologies, with the global rail transport market expected to reach RM3.1 trillion by 2030,” Mohd Termizi added.

Overall, Malaysia’s global trade in the rail sector continued its upward trend in 2023 with a 14.3 per cent increase to reach RM1.3 billion.

MATRADE said there is an intention to raise exports of rail products and services to capitalise on global rail transport trends in the post-pandemic era.

Malaysian rail exports globally totalled RM547.2 million in 2023; the top five destinations being Singapore, China, Taiwan, the United States, and Hong Kong. Major exports include cargo containers, rolling stock, railway parts, and signalling devices.

Malaysia’s 2023 total trade in the rail industry with Germany stood at RM47.8 million, a 25 per cent rise versus 2022.

The biennially InnoTrans 2024 (Sept 24-27) in Berlin is expected to bring together industry leaders, innovators and stakeholders to explore the latest trends and developments in rail transport.

-- BERNAMA


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