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More Can Be Achieved In Auto Sector Between Malaysia, Indonesia

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More can be achieved in auto sector between Malaysia, Indonesia

KUALA LUMPUR (August 10): The Malaysia Automotive Institute (MAI) and Institut Otomotif Indonesia (IOI) have today inked a Memorandum of Agreement (MoA) to further realise future potential of automotive industry collaboration between the two countries.

Figure 1: Malaysia Automotive Institute (MAI) and Institut Otomotif Indonesia (IOI) inked a new agreement to foster long-term collaboration in the area of automotive industry development. The collaboration between the two counties enable to further realise future potential of automotive industry. Picture by MAI.

The MoA focuses on human capital development, supply chain development, identification of market opportunities, automotive industry technology, quality enhancement and research collaboration to further develop the sector in Malaysia and Indonesia.

Since the initial collaboration between MAI and IOI last year, 10 Malaysian automotive companies have established business partnerships with their Indonesian counterparts, demonstrating an ever growing symbiosis between the two nations as regional trading partners.

The MoA exchange ceremony was witnessed by International Trade and Industry Minister Darell Leiking and Indonesia’s Ministry of Industry director general for international industrial access and development Gusti Putu Suryawirawan.

The signing ceremony was held in conjunction with Leiking’s working visit to Jakarta.

“Indonesia has long been a close trading partner of Malaysia. From 2006-2017, bilateral trade had improved significantly, almost doubled from US$9.02 billion in 2006 to US$16.89 billion last year.

“The 2017 figure represents 4.1 per cent of Malaysia’s global trade, thus making Indonesia our seventh largest trading partner globally,” Leiking said.

In March 2018, MAI and IOI organised a joint business matching programme between Malaysian and Indonesian automotive vendors.

The programme served as a platform for the vendors to identify potential business partners for greater market access in both countries.

It was participated by 18 Malaysian and 30 Indonesian vendors from various automotive manufacturing clusters.

“This should be seen as an early success for MAI and IOI. However, we must not rest on our laurels. Moving forward, MAI and IOI must continue to support and facilitate partnerships between both countries,” MAI chief executive officer Datuk Madani Sahari said.

He said MAI and IOI will continue to support and facilitate partnerships between the countries through various developmental programmes.

[Source: “More can be achieved in auto sector between Malaysia, Indonesia” published by New Straits Times]

Photo Credits: Malaysia Automotive Institute

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