Malaysia Well-Positioned To Be Strategic Partner, Hub For Aerospace Companies - Matrade

KUALA LUMPUR, Dec 9 (Bernama) -- Malaysia is well-positioned to be a strategic partner and a compelling hub for aerospace-related companies' expansion in Asia, says the Malaysia External Trade Development Corp (MATRADE). Its Chief Executive Officer, Dzulkifli Mahmud, said Malaysia is the gateway to Asia, equipped with vital ingredients such as world-class infrastructure, excellent connectivity, a skilled workforce, strong technology base, and a critical mass of aerospace activities. "Even though the percentage of the market captured by Malaysian players in the region is reasonably good, the absolute value of the aerospace industry is still small, compared to the size of the global market. "With the presence of international players in the country, the prospects for Malaysia to improve its position in capturing a bigger market are promising," he said at networking dinner, held in conjuction with Kuala Lumpur International Business Convention, here Thursday. He said with favourable demographics and growing middle class, the industry's centre of gravity was shifting from the West to the more rapidly-growing markets of Asia especially ASEAN. "By 2035, Asia-Pacific as you are well aware, will be the biggest airline market in the world, receiving 38 per cent of global deliveries of passenger and freight planes. "This will create new demands for maintenance, repair and overhaul services, and opportunities for the aerospace supply chain such as engineering, electronics, composite materials as well as manufacturing and systems integration," said Dzulkifli. He said the government would continue to nurture and strengthen the capabilities of local players to support the industry's growth. "This effort, however, must be complemented with an equally strong and dedicated commitment on the part of local companies to continuously expand their capacity and capability in terms of knowledge and technology acquisition" he said. MATRADE is the national trade promotion agency. --BERNAMA