Gifas To Explore More Aerospace Industry Opportunities With Malaysia

From Nor Baizura Basri SINGAPORE, Feb 18 (Bernama) -- French Aerospace Industries Association (Gifas), which has some 370 companies from big to small and medium enterprises (SMEs) under its belt, is keen to explore more opportunities with Malaysian companies. Managing Director Pierre Bourlot said Malaysia and France have been collaborating in the aerospace industry for quite some time. "For us, partnership with Malaysia is very important and that is why we opened a Gifas office in Kuala Lumpur last year, which is the first in Asia," he told Bernama in an interview on the sidelines of the Singapore Airshow 2016 on Wednesday. Bourlot said the association is not only looking to expand cooperation with Malaysia but also eyeing regional opportunities in neighbouring countries especially with ASEAN companies. Earlier, he signed a memorandum of understanding with MARA Aerospace & Technologies Sdn Bhd, which was represented by its Chief Technical Officer Naguib Mohd Nor. Also present at the signing ceremony was Md Silmi Abd Rahman, Director of Transport, Logistics, Machinery and Maintenance, Repair and Overhaul (MRO)/Europe Trade and Services Promotion Division of the Malaysia External Trade Development Corporation. Bourlot is currently leading a 60-member trade and investment mission to Kuala Lumpur Thursday. The delegation is scheduled to meet International Trade and Industry Minister II Ong Ka Chuan and visit the Aerospace Malaysia Innovation Centre (AMIC) facilities in Cyberjaya. Meanwhile, Naguib said the potential for partnership is huge as Malaysian companies are looking at moving up the value chain and into new industries. "So they need technology partners as well as partners to co-invest in new plants, new capabilities and manufacturing, which bodes well for French companies which are also looking to expand," he said. He said Southeast Asia will be the biggest purchaser of Boeing and Airbus aircraft in the next 10 years, accounting for 40 per cent of the latter's market. "Under the Entry Point Project 1, which covers growing aviation maintenance, repair and overhaul (MRO) services, the government forecasts revenue of US$4.17 billion (RM17.4 billion) by 2020, up from the current US$959.19 million (RM4 billion). (US$1=RM4.17) "So looking at the prospects, I believe both Malaysian and French companies can benefit from this collaboration," he said. -- BERNAMA