MATRADE Drives Malaysia's Exports to Turkey
NOVEMBER 25, 2016, KUALA LUMPUR : Malaysia External Trade Development Corporation (MATRADE) continues to be the main driver in accelerating Malaysia’s exports to Turkey as it concluded an Export Acceleration Mission (EAM) to Istanbul recently, with potential sales of USD21.91 (RM91.92 million) generated.
A total of 16 Malaysian companies participated in the EAM held in conjunction with the 16th MUSIAD Expo from 9 to 12 November 2016 at CNR Expo Centre in Istanbul. Products and services promoted during the mission included oleo chemical, frozen seafood, beverages, personal care products, medical devices, engineering services, food franchise, retail services and smart vending machine, Islamic accounting software as well as business consultancy services.
During the EAM, a Memorandum of Understanding (MOU) between Malaysia Turkey Business Club (MTBC) and Independent Industrialists' and Businessmen's Association, Turkey (MUSIAD) was signed. According to President of MTBC, Mr Suhaimee Abu Hassan the MOU is targeted at exchange of expertise, resources, projects and incentives to strengthen trade and investment promotion efforts. Via the MoU, both parties will encourage its members to participate in international trade fairs, exhibitions, business seminars and other activities including co-organising business events to provide a networking platform.
Since its establishment in April 2016, MTBC has about 400 registered members comprising 150 Malaysian companies and 250 Turkish companies. Apart from the recent participation in the 16th MUSIAD Expo, MTBC will have a presence in the upcoming Halal Expo 2016 from 15 to 17 December 2016 at Lutfi Kirdar Congress Center, Istanbul.
Also present at the EAM in the expo was Alttijara.com, an upcoming Halal e-marketplace that focuses on Halal food, fashion, beauty & cosmetics and healthcare. The e-marketplace connects 20,000 suppliers and merchants from Turkey, Russia, Malaysia, Indonesia and the Middle East with buyers from all over the world.
Malaysia’s continuous efforts to improve bilateral relationship with Turkey’s are a catalyst to foster more trade co-operations between the two countries. This EAM for instance has provided a good exposure for Malaysian companies in accessing the Turkish market and to gather feedback from the Turkish counterparts on Malaysian products and services.
In 2015, Turkey was Malaysia’s 28th largest trading partner. The total trade to Turkey in 2015 was RM5.61 billion with exports recorded at RM3.80 billion and imports valued at RM1.81 billion. Major exports to Turkey were palm oil & palm-based products, textiles & apparels, chemicals & chemical products, manufactures of metal and rubber products.
For the period of January to September 2016, Malaysia’s trade with Turkey continued to register strong growth with total trade recorded at RM5.69 billion, an increase of 47.7 per cent compared to RM3.85 billion in same corresponding period last year. Exports increased by 107.5 per cent to RM4.76 billion and imports were RM923.5 million.
These encouraging trade figures showed the positive impact of the Malaysia-Turkey Free Trade Agreement that came into effect since 1 August 2015. MATRADE encourages Malaysian companies that are keen to expand their export market in Turkey to contact MATRADE’s Istanbul office via email at This email address is being protected from spambots. You need JavaScript enabled to view it..
