KUALA LUMPUR (Sept 14): Malaysia’s machinery and equipment (M&E) exports reached RM34.4 billion in the first seven months of 2022, an increase of 25.5% from the corresponding period last year, said the Malaysia External Trade Development Corporation (MATRADE). MATRADE deputy chief executive officer (export acceleration) Sharimahton Mat Saleh said M&E is an important industry to Malaysia and the seventh largest export sector, with a value of RM49.9 billion, making up 4% of Malaysia’s total exports in 2021. “Machines and apparatus used principally for manufacturing semiconductors, parts, and accessories are the largest export segment, valued at RM8.8 billion or 17.5% of total M&E exports in 2021. “MATRADE applauds this joint venture between MMT and Future Hover whereby both parties could complement each other strength in producing a more diverse range of high-tech products in Malaysia. “We are confident in our position in making Malaysia the preferred destination for semiconductor exports in the world and we look forward to working closely with MATRADE,” he said.
