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BUSINESS

Malaysia-Turkiye trade rose 74 pct last year

04/08/2022 08:39 PM

KUALA LUMPUR, Aug 4 (Bernama) -- Total trade between Malaysia and Turkiye went up 74.2 per cent last year, from RM9.74 billion in 2020 to RM16.97 billion in 2021.

Prime Minister Datuk Seri Ismail Sabri Yaakob attributed the expanded trade to the free trade agreement signed with Turkiye (MTFTA) on Aug 1, 2015.

“Both countries are in final negotiations to expand the scope of the  MTFTA, which covers areas like investment, services, and e-commerce so that the potential for more trade can be enhanced,” the premier said in a Facebook posting today after receiving a courtesy call from Turkiye Foreign Minister Mevlut Cavusoglu this morning, who is on an official visit to the country.

“Bilateral relations between  Malaysia-Turkiye have been established since 1957 and have been upgraded to the level of comprehensive strategic partnership (CSP),” he added.

On food security, Ismail Sabri said both countries have agreed to work actively together to develop a sustainable food supply chain for mutual benefit.

Malaysia also appreciated the firm stand by Turkiye to find a quick solution to the Russia-Ukraine crisis.

Earlier in a media conference in Parliament, Foreign Minister Datuk Seri Saifuddin Abdullah said the bilateral relation between Malaysia and Turkiye had been upgraded to the CSP level during the Prime Minister’s visit to Ankara recently.

Saifuddin said both countries also agreed to have more discussions, formally or informally, between the foreign ministers.

-- BERNAMA


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