Capitalising on FTA to Boost Malaysia-Turkey Trade

WEDNESDAY, 4 SEPTEMBER 2019, KUALA LUMPUR: Since the signing of Malaysia-Turkey Free Trade Agreement (MTFTA) in August 2015, Turkey has become an important trading partner for Malaysia with Malaysia’s exports to the country grew by double digits in 2016 (49.7 per cent) and 2017 (43.0 per cent). To maintain this momentum, Malaysia External Trade Development Corporation (MATRADE) will be organising an Export Acceleration Mission (EAM) to Ankara and Istanbul, Turkey from 2 to 6 September 2019.

Mr. Abu Bakar Yusof, Senior Director, Export Promotion and Market Access Division MATRADE said, “Looking at the statistics, Malaysia has significantly benefitted from MTFTA, hence this EAM is aimed at further exploring greater access into Turkey market. However, there are also opportunities for Malaysian companies, to leverage on Turkey’s position as producers of reliable consumer goods with competitive offerings as the substitution to our existing imports particularly from the non-FTA partners. In addition, Malaysian companies are also encouraged to explore technological collaborations with Turkey companies. MATRADE hope that this EAM would be able to realise this objective”.

“Turkey is becoming an important marketplace for Malaysia. The recent official visit by YAB Prime Minister to Turkey testified the increasing importance of Turkey from the perspective of economic and bilateral trade. This mission is a continuation of a series of engagements executed by both countries,” shared Abu Bakar.

The EAM is MATRADE’s signature trade promotion programme aimed at providing Malaysian companies a direct connection to potential buyers from around the world. The EAM remains a facilitation of choice for Malaysian companies due to the personalised engagements the programme offers. “Through the EAM, we are able to enhance the credibility of the Malaysian exporters due to MATRADE’s presence there to back them up. This makes a huge difference in garnering more trust and confidence from the foreign buyers,” said Abu Bakar.

In an effort to add value to the EAM, MATRADE will also be facilitating a series of pitching sessions for Malaysian companies with the attendance of key Turkish importers. More than 100 B2B meetings are set to be scheduled for 15 Malaysian companies attending the EAM. The companies, who are Small and Medium Enterprises (SMEs), will be showcasing productssuch as medical devices and disposables, palm oil and palm oil-based products, food ingredients, logistics and green products.

“Through MATRADE trade office in Istanbul, we have identified 60 leading importers and buyers in both Istanbul and Ankara to be matched with the participating SMEs. Several networking and discussion sessions with Turkish trade associations and business chambers will also take place in an effort to familiarise the Malaysian companies with rules and regulations on doing business in Turkey. Industry visits to major retailers and distributors headquarters will also complement all the planned engagements.

According to Ms. Rosmizah Mat Jusoh, MATRADE’s Trade Commissioner in Istanbul, Turkey provides enormous market opportunities with its population of 80 million people. “Turkey should be in the radar for Malaysian companies when looking for a new export market. There is a sizeable domestic market and an ideal hub for Malaysian products entering the EU and its neighbouring markets,” she said.

Updated by Corporate Communication Unit

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