Malaysia's trade mission to France generates RM2.6 bln potential investment

KUALA LUMPUR: The latest trade and investment mission to France has successfully generated a total potential investment of RM2.6 billion and RM300 million worth of potential exports, according to the Ministry of International Trade and Investment (MITI).

This validates the success of Malaysia's continuous efforts in attracting quality investment and in enhancing participation of local companies in high value global supply chain, the ministry said.

"The strong interest shown by French companies garnered during the mission serves as a major catalyst in expanding the bilateral trade and investment relations, most notably in areas that support the sustainable and green agenda advocated by both nations," it said in a statement here today.

The mission to France, which took place from Oct 15-17, 2021, was led by MITI and Senior Minister Datuk Seri Mohamed Azmin Ali. Among others, the Malaysian delegation also had a series of one-to-one sessions with French companies, notably Airbus, Saint-Gobain, Adisseo Group, Prolaser, and Innovafeed.

During these sessions, the French enterprises showed great interest to continue making Malaysia their business partner in the aerospace, biotechnology, advanced chemical, medical devices, halal products and the construction sectors, said the ministry.

According to the statement, Mohamed Azmin also had bilateral meeting with Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester, in Paris.

During the meeting, Mohamed Azmin highlighted opportunities in Malaysia's growing green technology sector and Malaysian industry players' capabilities in this high-value sector.

Both ministers had an engaging discussion on topics of mutual interest, including economic recovery strategies in the endemic phase, advancing reforms at the World Trade Organisation (WTO), leveraging Malaysia's position in the mega Regional Comprehensive Economic Partnership (RCEP) agreement, and investment and commercial opportunities in renewable energy.

The Malaysian delegation also commended France's renewed interest in the Southeast Asian region, including Malaysia, and saw this new development as a pathway to further strengthen ties between both nations.

The delegation welcomed France's growing interest in this region as the republic is set to assume the presidency of the Council of the European Union during the first half of 2022.

Mohamed Azmin also witnessed the signing of a memorandum of understanding (MOU) between the Malaysian Investment Development Authority (MIDA) and Mouvement des Enterprises de France (MEDEF) International.

The strategic partnership between MIDA and MEDEF International will complement Malaysia's National Investment Aspirations through expanded cooperation aiming to facilitate the nation's industrial ecosystem with the catalytic infrastructure and new technologies.

-- BERNAMA