MPIC expresses its gratitude to Turkey for the lower tax exemptions as a result of the Malaysia-Turkey FTA signed in 2019
by ANIS HAZIM / pic credit: myrubbercouncil.com
MALAYSIA has offered its expertise in natural rubber technology, mainly in seismic rubber bearings to Turkey, the Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin said.
The offer was made during the four-day official visit by the Ministry of Plantation Industries and Commodities’ (MPIC) minister to Turkey which concluded last week as part of the ongoing economic missions abroad to promote Malaysian agri-commodity products.
According to Zuraida, the natural rubber technology is capable of absorbing earthquake tremors for the construction industry, including bridges and railways in Turkey.
“We also discussed, among others, Malaysia’s intentions to intensify its downstream industries based on palm oil and rubber,” she said in a statement yesterday.
She said MPIC also expressed its gratitude to Turkey for the lower tax exemptions as a result of the Malaysia-Turkey Free Trade Agreement signed in 2019.
“We also held discussions on making Turkey a hub for Malaysian agri-commodity products to Europe and Central Asia,” she said.
The meetings were held with industry players in Ankara, Turkey to discuss issues and problems faced, apart from promoting Malaysia’s main agri commodities products like palm oil, rubber, timber, cocoa and pepper.
Moreover, MPIC has met Turkey’s leading business association Yildiz Holding and visited the Sevila Movilya furniture factory in Istanbul.
“We also witnessed the signing of a memorandum of understanding between the Malaysian Timber Council and Turkish Timber Importers and Exporters Association,” she added.
Notably, she said Turkey remains an important market for Malaysian agri-commodities.
“In 2021, the trade value of Malaysian agri-commodity products with Turkey was worth RM6.02 billion with an export value of RM5.99 billion.
“Exports of our agri-commodity products to Turkey increased by 49.5% from RM4.01 billion in 2020,” she noted.
Concurrently, among the four major agri-commodity products exported to Turkey are palm oil-based products (RM4.38 billion), followed by rubber (RM1.29 billion), cocoa (RM304.5 million) and timber (RM8.43 million).