“Malaysia has a huge potential in the global aerospace business.”

DARELL LEIKING, International Trade and Industry Minister

KUALA LUMPUR: The International Trade and Industry Ministry cautioned that the financial crisis in Turkey will have some impact on Malaysia’s trade with the country.

Minister Darell Leiking said the government was preparing solutions to minimise the impact.

“We are always ready and we must cushion the impact. We will come up with solutions. We hope this country will not be badly affected,” he said after officiating at the Malaysia Aerospace Summit 2018 (MyAero’18), here, yesterday.

Darell is hopeful Malaysia would be able to sustain exports to Turkey and get payments.

“The ministry will monitor the situation to ensure that our trade is protected.”

Malaysia’s trade with Turkey last year amounted to RM12.06 billion. Exports to Turkey amounted to RM10.51 billion while imports stood at RM1.55 billion.

On the government’s 100-day trade performance, Darell said every decision made by the administration would affect the country’s trade.

On MyAero’18, he said the aerospace industry had maintained positive growth in the last two decades, adding that the country had positioned itself as an important supplier to global original equipment manufacturers such as Airbus, Boeing and Rolls-Royce.

“Malaysia has a huge potential in the global aerospace business. Aerospace products made in Malaysia are supplied throughout the world.

“To sustain our competitiveness, we have to focus on competency development and Industry 4.0, which will lead us to produce high value-added and complex aerospace products.”

He said Southeast Asia’s dynamic regional aerospace market was gaining traction and Malaysia was well-positioned to capitalise on this sector.

Darell said strong market demand had accelerated the development of the local supply chain.

“We are optimistic the aerospace sector will continue to be a vibrant and thriving industry given that Asia Pacific is expected to have the highest growth in new aircraft delivery for the next decade,” he added.

PIC BY MOHD YUSNI ARIFFIN SME Aerospace chief executive officer David F.J. Davies (second from left) briefing International Trade and Industry Minister Darell Leiking (second from right) and Deputy Rural Development Minister R. Sivarasa (right) at the Malaysia Aerospace Summit 2018 in Kuala Lumpur yesterday.