Malaysia, Türkiye to expedite the completion of MTFTA

by AUFA MARDHIAH

MALAYSIA and Türkiye have agreed to continue working expeditiously to accelerate the completion of negotiations on the expansion of the Malaysia-Türkiye Free Trade Agreement (MTFTA).

Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said both countries acknowledged the expansion of MTFTA offers immense opportunities for Malaysia to
enjoy and optimise their respective trade balance.

Mohamed Azmin said this after a meeting with Türkiye Trade Minister Dr Mehmet Mus today.

“The meeting was fruitful and comprehensive by all accounts, with special focus on the very promisingprogress we have made thus far in respect of the expansion of MTFTA. Both sides acknowledge the imperative of this expanded FTA as being the lynchpin in taking our bilateral economic and trade relations to the next level,” Mohamed Azmin said

Under the MTFTA, both countries will optimise and use the concession tariffs provided. Malaysia through Malaysia External Trade Development Corp has offered to initiate technical cooperation and capacity building activities with the relevant trade authorities in Türkiye to further improve trade performance.

Moreover, the expanded MTFTA package will also facilitate the movement of professionals and skilled workers to supply their services in the Turkish and Malaysian markets.

Malaysia also welcomes Dr Mehmet’s proposal on a joint economic trade council meeting by the third quarter of this year and is positive that the meeting will work towards the further enhancement of both
countries bilateral trade and economic ties.

The bilateral meeting was a follow-up to both ministers’ previous engagement in July last year.

Discussions on the matter were resumed today in a bilateral meeting in Ankara between His Excellency Recep Tayyip Erdoğan and Prime Minister Datuk Seri Ismail Sabri Yaakob.