KUALA LUMPUR (October 18): The latest trade and investment mission to France has successfully generated a total potential investment of RM2.6 billion and RM300 million in potential exports, according to the Ministry of International Trade and Industry (Miti).
This validates the success of Malaysia’s continued efforts to attract quality investment and boost the participation of local businesses in the global high value-added supply chain, the ministry said.
“The strong interest shown by French companies during the mission serves as a major catalyst in the expansion of bilateral trade and investment relations, particularly in areas that support the sustainable and green agenda advocated by the two nations” , he said in a statement here today. .
The mission to France, which took place from October 15 to 17, 2021, was led by Miti and Chief Minister Datuk Seri Mohamed Azmin Ali. Among others, the Malaysian delegation also had a series of one-on-one sessions with French companies, including Airbus, Saint-Gobain, Adisseo Group, Prolaser and Innovafeed.
During these sessions, French companies showed great interest in continuing to make Malaysia their business partner in the sectors of aerospace, biotechnology, advanced chemicals, medical devices, halal products and construction, the ministry said.
According to the press release, Mohamed Azmin also had a bilateral meeting with the Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester, in Paris.
During the meeting, Mohamed Azmin highlighted the opportunities in Malaysia’s growing green technology sector and the capabilities of Malaysian industry players in this high value-added sector.
The two ministers had an interesting discussion on topics of mutual interest, including economic recovery strategies in the endemic phase, the progress of reforms at the World Trade Organization (WTO), Malaysia’s position in the mega Regional Comprehensive Economic Partnership (RCEP) agreement, and renewable energy investment and business opportunities.
The Malaysian delegation also welcomed France’s renewed interest in the Southeast Asian region, including Malaysia, and saw in this new development a path to further strengthen ties between the two nations.
The delegation welcomed France’s growing interest in this region as the republic is expected to assume the Presidency of the Council of the European Union in the first half of 2022.
Mohamed Azmin also attended the signing of a memorandum of understanding between the Malaysian Investment Development Authority (Mida) and the Mouvement des Entreprises de France (Medef) International.
The strategic partnership between Mida and Medef International will complement Malaysia’s national investment aspirations through expanded cooperation aimed at facilitating the country’s industrial ecosystem with catalytic infrastructure and new technologies. – Bernama