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BUSINESS

PM's Turkiye visit will further boost local palm oil exports -- Zuraida

11/07/2022 12:15 PM

KUALA LUMPUR, July 11 (Bernama) — The Ministry of Plantation Industries and Commodities (MPIC) is confident that bilateral ties with Ankara will be further enhanced with the recent visit by Prime Minister Datuk Seri Ismail Sabri Yaakob to Turkiye.

“I am confident that warmer ties between both countries will boost bilateral trade, especially in the export of Malaysia's commodities, such as palm oil,” Plantation Industries and Commodities Minister Datuk Zuraida Kamarudin said in a statement today.

Her visit, which also witnessed the signing of several memorandum of understandings (MoUs) between both countries, added further impetus to Malaysia's efforts to boost its commodities exports to Turkiye, Zuraida said, adding that she led a trade mission to Turkiye in late March this year.

Zuraida said she met Turkish Minister of Trade Dr Mehmet Mus on March 27 and delved into Malaysia’s intentions to intensify downstream activities of the palm oil industry.

Malaysia also offered its expertise in natural rubber technology, mainly in seismic rubber bearings which are capable of absorbing earthquake tremors for the construction industry, including bridges and railways which are rapidly growing in Turkiye, Zuraida said.

During that trip in March, she also called on Turkiye to support Malaysia's palm oil products, she said.

There were also discussions to make Turkiye a hub for Malaysian agricultural commodities to enter Europe and Central Asia, Zuraida said.

Turkey is an important market for Malaysia's agri-commodities. The trade value of Malaysia's agri-commodities with Turkiye amounted to RM6.02 billion in 2021, with an export value of RM5.99 billion versus RM4.01 billion in 2020.

The four agri-commodities exported to the republic are palm oil-based products (RM4.38 billion), followed by rubber (RM1.29 billion), cocoa (RM304.5 million), and timber (RM8.43 million)

-- BERNAMA


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