May 27, 2022
On May 27, the Ministry of Economy, Trade and Industry (METI) and the Government of Malaysia signed and exchanged a memorandum of understanding (MOC) on the aircraft industry, in the presence of their two countries’ Prime Ministers. The signing of the MOC is expected to encourage concrete cooperation, such as creating business matching opportunities and supporting the development of human resources.
On May 27, METI Minister Hagiuda and Malaysia’s Senior Minister Azmin Ali, Minister of International Trade and Industry, signed and exchanged a memorandum of cooperation (MOC) on the aircraft industry, in the presence of their two countries’ Prime Ministers.
Date: May 27, 2022 (Fri.)
Place: Grand Hall on the 2nd floor of the Prime Minister’s Official Residence
Japan side: Prime Minister Kishida, METI Minister Hagiuda, and other officials
Malaysia side: Prime Minister Ismail, Senior Minister and Minister of International Trade and Industry Azmin Ali, and other officials
Although conditions in the aircraft industry are currently severe due to COVID-19, sustainable growth is expected in the medium- to long-term. In addition, Asia will account for approximately 40% of the global airplane demand (around 43,000 aircrafts) over the next 20 years.
In particular, Malaysia has positioned developing its aircraft industry as a national strategy, and major American and European aircraft manufacturers are expanding into the country as a base for manufacturing parts.
Against this background, METI and Malaysia’s Ministry of International Trade and Industry have signed an MOC to support and create actual cooperative projects, such as business expansion of mainly small and medium-sized Japanese suppliers into Malaysia and realization of their direct businesses with local Malaysian companies and with American and European companies’ subsidiaries based there.
Details of the cooperation covered by the MOC
Exchanging and spreading information
Relevant policies; support programs by relevant public organizations; companies interested in collaboration between Japan and Malaysia; related technologies.
Creating business matching opportunities
Conducting business matching and missions toward creating collaborative projects.
Support toward developing human resources
Conducting education and training at Japanese factories; dispatching experts to Malaysia.