Malaysia's Expertise in the Railway Industry Will Take Center Stage on the International Scene
WEDNESDAY, 3 APRIL 2024, KUALA LUMPUR: Malaysia's dynamic rail industry will showcase its latest innovations, expertise and capabilities at InnoTrans 2024, the leading trade fair for transport technology. InnoTrans 2024, which scheduled to be held from 24 to 27 September 2024 in Berlin, Germany, brings together industry leaders, innovators and stakeholders to explore the latest trends and developments in rail transport.
Malaysia's participation in the event, which is organised by the Malaysia External Trade Development Corporation (MATRADE), will allow us to highlight our expertise in the rail industry, particularly in the areas of technological innovation, sustainable solutions, rolling stock, digital solutions and Maintenance, Repair and Overhaul (MRO) services. According to Abu Bakar Yusof, Deputy Chief Executive Officer (Export Acceleration) MATRADE, “MATRADE is poised to demonstrate our commitment in driving the technological advancements and sustainable solutions in the global rail sector by sending a strong delegation that includes the key players in the industry, government agencies and trade associations”.
“One of the distinguishing features of Malaysia's rail industry is its emphasis on sustainability. Embracing green technologies and implementing eco-friendly practices highlights Malaysia's commitment as the nation poised to become among the regional and global leaders in railway infrastructure development. 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” said Abu Bakar.
German railway sector presents significant opportunities for Malaysian firms, particularly in the domains of power supply, signalling technology, rolling stock, track technology, alongside MRO services as well as re-manufacturing activities. In 2023, Malaysia’s total trade to the German market stood at RM47.8 million, an increase of 25% as compared from previous year.
Mohamad Termizi Piee, Trade Commissioner of MATRADE Frankfurt, highlighted the potentials for Malaysian businesses in the German rail market, which the country is currently working towards its ambitious targets for its railway system for the year 2030, aimed at modernising infrastructure, improving services as well as promoting sustainability. He noted that the significant expenditures made recently in both equipment and infrastructure were credited with this growth.
“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” he added.
Overall, Malaysia’s global trade in the rail sector continued its upward trend in 2023 with a double digit increase of 14.3% to reach RM1.3 billion. MATRADE intends to increase exports of rail product and service to capitalize on the resurgent global trend towards rail transportation in the post-pandemic era. Within the same year, Malaysian rail exports globally totalled RM547.2 million with the top five destinations being Singapore, China, Taiwan, the United States and Hong Kong respectively. Major export products include cargo containers, rolling stock and railway parts as well as signalling devices.
InnoTrans is the leading international trade fair for transport technology, covering all aspects of rail transport, from infrastructure to rolling stock, signalling systems and digitalisation solutions. Held biennially in Berlin, Germany, InnoTrans attracts industry professionals, exhibitors and visitors from around the world. This event presents a valuable platform for Malaysian rail companies to highlight their advancement in rail technology, sustainability and industry collaboration.
MATRADE invites Malaysian companies and related organisations in rail industry to join Malaysian Pavilion at InnoTrans 2024 where MATRADE will host B2B meetings and MoU signings, showcasing Malaysia as a reliable international partner in rail engineering, procurement, construction and commissioning.
Malaysian companies interested to join InnoTrans 2024 can contact MATRADE by emailing Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya. or call 03-6207 7934. For more details on exports to Germany, please email Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya..
