MATRADE Gearing Up To Increase Export Share of Food Products in Turkey
THURSDAY, SEPTEMBER 3, 2015, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) is organising a Specialised Marketing Mission (SMM) on food products to Istanbul, Turkey starting today till 6 September 2015. The event is held in conjunction with World Food Istanbul 2015, the largest and most successful food and packaging exhibition in Turkey.
The participation is MATRADE’s first involvement in World Food Istanbul and the event sees the participation of 10 companies from Malaysia. The Malaysian companies joining the SMM include exporters of beverages, food ingredients, flavouring and colouring, herbal products, confectionery and snacks as well as fruits. More than 120 business meetings have also been scheduled between the Malaysian companies and buyers from Turkey ranging from importers, distributors and retailers.
According to Idzham Ab. Hamid, Director at MATRADE Istanbul, the marketing mission provides good trade opportunities as well as exposure to the Malaysian companies about the trends and requirements to export to Turkey. In addition, Malaysian companies could also consider Turkey as a gateway to the European Union (EU) market as it is a member of the EU Customs Union.
Furthermore, Malaysian exporters should capitalise on the growing needs for Halal products in Turkey. With a large young population, rising spending power and a widespread presence of modern international retail outlets, Turkey continues to offer a dynamic consumer base for growth in the food and beverages sector.
In 2014, total trade between Malaysia and Turkey amounted to RM3.17 billion. Malaysia’s exports to Turkey totaled at RM2.46 billion, while imports amounted to RM0.71 billion. Malaysia’s exports of processed food to Turkey for the period January to June 2015 has increased by 59.2 per cent to RM30.5 million compared to the same period last year. Major processed food products being exported include food preparations and ingredients, margarine and shortening as well as cocoa and cocoa preparations.
Additionally, the Malaysia-Turkey Free Trade Agreement (MTFTA) which came into effect on 1st August 2015 is expected to help strengthen bilateral trade and economic linkages between the two countries on a long-term basis. Malaysian exporters are encouraged to take full advantage of the opportunities offered under this FTA and benefit from preferential access for their products in Turkey.
