FRIDAY, SEPTEMBER 13, 2019, KUALA LUMPUR: The recent Export Acceleration Mission (EAM) spearheaded by Malaysia External Trade Development Corporation (MATRADE) to promote Malaysian products and services in Turkey has generated good results. It is a good indication of Turkish companies towards Malaysian products.
The mission which took place in the capital city of Istanbul and Ankara from 2 to 6 September 2019 participated by 15 Malaysian companies from various sectors such as medical devices and disposables, palm oil and palm oil-based products, food ingredients, logistics and green products.
The EAM was aimed at exploring business ventures as well as providing platform for Malaysian companies to promote their “Made in Malaysia” brands in the region. A total of 160 business meetings were arranged in both cities between Malaysian companies and potential Turkish partners, generated export sales of RM823.72 million.
Apart from business meetings and networking session, the Malaysian companies also participated in roundtable discussion and seminar to provide the latest updates on trade and investment opportunities in Turkey, organised by MATRADE in collaboration with local trade and business associations such as with Ankara Chamber of Commerce in Ankara and Istanbul Chamber of Commerce.
Malaysian companies also got the opportunity to visit local importers, distributors and retailers to get better understanding on the product requirements and certifications, pricing structure and specific demand from Turkish companies. In addition, MATRADE has arranged visits to two prominent trade fairs related to food and beverages, namely World Food Istanbul and CNR Food Istanbul to network with international companies and participants.
Mr. Abu Bakar Yusof, Senior Director, Export Promotion & Market Access Division, MATRADE commented that the Malaysia-Turkey Free Trade Agreement (MTFTA) which took effect in August 2015 has certainly given Malaysian products a competitive edge in the market. “The domestic market is big and the fact that Turkey acts as a gateway to the surrounding regions such as EU, MENA and Central Asia also open up bigger market size for Malaysian products and services”.
“In addition, Malaysian companies should also explore beyond enhancing market access into Turkey by collaborating with Turkish companies to reach wider market. As part of EU Customs Union members and the signing of FTA with 25 countries, Turkey provides access to more than 850 million populations. This is an opportunity that could not be missed by Malaysian companies” added Mr. Abu Bakar.
For the period of January – July 2019, Malaysia’s total trade with Turkey amounted to RM5.22 billion. Total exports was valued at RM4.24 billion while imports totaled RM0.98 billion.