by NUR HAZIQAH A MALEK/ pic by MUHD AMIN NAHARUL
TURKEY should remain on the radar for Malaysian companies that are looking for a new export hub. It has a sizeable domestic market and positioned well to be the axis into the European Union and its neighbouring markets.
Malaysia External Trade Development Corp (Matrade) trade commissioner in Istanbul Rosmizah Mat Jusoh said Turkey alone provides an enormous market opportunity with its population of 80 million people.
Since the signing of Malaysia Turkey Free Trade Agreement (MTFTA) in August 2015, Turkey has become an important trading partner for Malaysia.
Malaysia’s exports to the country grew by double digits in 2016 (49.7%) and 2017 (43%).
As part of the mission to increase trade between the two countries, Matrade has organised a five-day Export Acceleration Mission (EAM) in Ankara and Istanbul, Turkey, which will begin on Sept 2.
Matrade export promotion and market access division senior director Abu Bakar Yusof (picture) said Malaysia has significantly benefitted from MTFTA and more could still be done to leverage on Turkey’s position as producers of reliable consumer goods with competitive offerings.
In addition, Malaysian companies are also encouraged to explore technological collaborations with Turkey companies.
“Turkey is becoming an important marketplace for Malaysia. The recent official visit by Prime Minister Tun Dr Mahathir Mohamad to Turkey testified the increasing importance of Turkey from the perspective of economic and bilateral trade.
“This mission is a continuation of series of engagements executed by both countries,” Abu Bakar said in a statement.
EAM is Matrade’s signature trade promotion programme aimed at providing Malaysian companies a direct connection to potential buyers from around the world. EAM remains a facilitation of choice for Malaysian companies due to the personalised engagements the programme offers.
“Through 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 foreign buyers,” Abu Bakar said.
In an effort to add value to EAM, Matrade will also be facilitating a series of pitching sessions for Malaysian companies with the attendance of key Turkish importers.
More than 100 business-to-business meetings are scheduled for 15 Malaysian companies attending EAM.
The companies — mainly small and medium enterprises (SMEs) — will be showcasing products such as medical devices and disposables, palm oil and palm oil-based products, food ingredients, logistics and green products.
“Through Matrade’s 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.