Malaysia's Debut Participation in Innotrans 2024 Yields RM278 Million in Sales
KUALA LUMPUR, 1 OCTOBER 2024, (TUESDAY) - The Malaysia External Trade Development Corporation’s (MATRADE) longstanding efforts to strengthen the global presence of the local rail industry have yielded strong results through its first-ever participation in InnoTrans trade fair in Berlin, Germany from 24–27 September 2024. InnoTrans is the world's largest trade fair for transport technology.
The Malaysian Pavilion at the trade fair, which saw the participation of eight Malaysian companies and one rail association, generated sales totalling RM277.7 million through 112 business meetings facilitated by MATRADE. Additionally, Malaysian companies managed to secure 192 trade enquiries during this event.
These Malaysian exhibitors who participated in InnoTrans 2024 showcased their capabilities in rolling-stock engineering and design services, infrastructure and construction services, precision manufacturing, maintenance, repair and overhaul (MRO) services and consultancy services.
According to Mr. Abu Bakar Yusof, Deputy Chief Executive Officer (Export Acceleration) of MATRADE, InnoTrans this year has undoubtedly propelled Malaysia's rail sector to unprecedented heights. “This achievement not only reinforces Malaysia’s capacity to expand the export of rail products and services but also strategically positions the country as a competitive, capable and reliable provider of rail solutions on the global stage,” he said.
He added that by showcasing Malaysia’s strengths and innovations, MATRADE aims to integrate Malaysian companies into the international rail supply chain, further solidifying our presence in this high-value industry and driving sustained growth for the sector”. The Deputy CEO of MATRADE noted that Malaysia’s rail exports from January to August 2024 have maintained their upward trajectory, recording a 47% increase to RM471.6 million compared to RM320.9 million during the same period in 2023. The European Union (EU) remains one of Malaysia’s key export markets for rail products and services. In 2023, rail exports to the EU surged by 82.5%, reaching RM12.3 million, up from RM6.7 million in the previous year. The EU, Malaysia’s fifth-largest export destination for rail products in 2023, witnessed a significant rise in exports, underscoring the growing demand for Malaysian rail solutions in the region.
During InnoTrans 2024 there were also exchanges of several Memorandums of Understandings (MoUs) and collaboration agreements between Malaysian companies and international partners from Germany, Australia, South Korea, Türkiye and Japan. These MoUs and agreements are primarily focused on advancing Malaysia's rail technology development and fostering technology transfer through various initiatives, leveraging the respective strengths and capabilities of each party.
Malaysian companies seeking to engage with Germany’s railway sector should align their strategies with the country’s focus on climate change and sustainability. Germany is making significant investments in modernizing and greening its rail infrastructure as part of its decarbonization goals under the EU Green Deal. Germany is currently pushing to modernize its railway sector in line with the European Union’s broader European Green Deal, which emphasizes sustainable and carbon-neutral transport by 2050.
Additionally, this year, one of InnoTrans' key focuses is the role of artificial intelligence (AI) technology as a transformative force in the rail industry, which presents valuable opportunities for Malaysian companies, particularly in the areas of smart rail solutions, digitalization, energy-efficient systems and AI in shaping the future of rail.
InnoTrans, set several records at its 14th edition, featuring participation from 2,940 exhibitors across 59 countries, including Malaysia, showcasing their latest products and services in the rail sector. The event is divided into five key segments: Railway Technology, Railway Infrastructure, Public Transport, Interiors and Tunnel Construction, with innovations ranging from battery and fuel cell-powered locomotives to AI-based algorithms for timetabling and barrier-free access to mainline trains.
Bringing together top industry players, innovators and stakeholders, InnoTrans serves as a premier platform to explore the latest trends and developments in rail transport, providing Malaysian rail companies with a valuable opportunity to showcase their advancements in technology, sustainability and industry collaboration.
