Malaysia’s Trade and Investment Mission to Germany and France Spurs RM46 Billion Potential Investments

The Ministry of Investment, Trade and Industry (MITI) concluded a fruitful Trade and Investment Mission to Germany and France in a strategic move to further fortify Malaysia’s position as the preferred investment destination. Led by Minister of Investment, Trade, and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, the mission aimed to bolster investment prospects and foster economic partnerships.

From 11- 19 March 2024, the mission covered key cities in Germany namely Berlin and Hamburg, as well as Paris, France. Notably, the German leg of the mission coincided with the official visit of Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Ibrahim, highlighting the diplomatic and economic significance of the endeavour.

Comprising officials from MITI, MIDA, and the Malaysia External Trade Development Corporation (MATRADE), the delegation engaged in high-level discussions with European companies across various sectors outlined in Malaysia’s New Industrial Master Plan (NIMP) 2030. These sectors included semiconductor, automotive, aerospace, railway, chemical, medical devices, and machinery and equipment.

The mission included key engagements with prominent companies such as X-Fab, Melexis, Infineon Technologies AG, Airbus Group, Schott Glass, BMW, Nexperia, B-Braun, Michelin, Institut de Soudure (IS) Groupe, Safran and Simaero. These interactions explored investment plans and discussions on establishing strategic partnerships in Malaysia, poised to significantly contribute to the nation’s economic growth, particularly through technology transfer and job creation.

Discussions also focused on export potential with entities including Airbus Group, Deutsche Bahn, Safran, and X-Fab (France), indicating a continued interest in sourcing from Malaysia.

Wrapping up the mission, the MITI Minister emphasised the strategic importance of these engagements, stating Malaysia’s commitment to enhancing investments and trade, during his Dialogue Session with the Mouvement des Entreprises de France, or the Movement of the Enterprises of France (MEDEF), the largest employer federation in France, which attended by prominent companies in France.

By fostering collaborative relationships with key players in France and Germany, Malaysia aims to expand its global footprint and solidify its position as a competitive partner in various industries.

In 2023, bilateral trade between Malaysia and Germany witnessed a 5.9% increase, reaching USD13.91 billion (RM63.46 billion), positioning Germany as Malaysia’s 13th largest trading partner within the European Union (EU). Similarly, Malaysia-France bilateral trade amounted to USD3.68 billion (RM16.71 billion), positioning France as Malaysia’s 22nd largest trading partner and the 3rd largest trading partner within the EU. These figures underscore the growing economic ties between Malaysia and these European nations.

The successful outcomes of this Trade and Investment Mission, which signify a total of RM46 billion, a significant step towards enhancing Malaysia’s economic resilience and global competitiveness, paving the way for sustainable growth and prosperity.