Matrade: Turkey visit a success
KUALA LUMPUR: Malaysia External Trade Development Corp’s (Matrade) recent Export Acceleration Mission (EAM) to promote Malaysian products and services in Turkey has generated good results.
The agency said this was a good indication of Turkish companies’ response to Malaysian products.
Matrade export promotion and market access division senior director Abu Bakar Yusof said the Malaysia-Turkey Free Trade Agreement, which took effect in August 2015, had certainly given local products a competitive edge in the market.
“The domestic market is big, and the fact that Turkey acts as a gateway to the European Union (EU), Middle East and North Africa and Central Asian regions also opens up the market for Malaysian products and services,” he said in a statement yesterday.
The mission to Istanbul and Ankara from Sept 2 to 6 this year involved 15 Malaysian companies from various sectors, such as medical devices and disposables, palm oil and palm oil-based products, food ingredients, logistics and green products.
The EAM was aimed at exploring business ventures and providing a platform for Malaysian companies to promote their Made-inMalaysia brands in the region.
A total of 160 business meetings were arranged in both cities between Malaysian companies and potential Turkish partners, which generated export sales of RM823.72 million.
Apart from business meetings and networking sessions, Malaysian companies also participated in roundtable discussions and seminars to provide latest updates on trade and investment opportunities in Turkey, organised by Matrade in collaboration with local trade and business associations.
Malaysian companies also had the opportunity to visit local importers, distributors and retailers to get better understanding of the product requirements and certifications, pricing structure and specific demands of Turkish companies.
“As part of EU Customs Union members and the signing of free trade agreements with 25 countries, Turkey provides access to a population of more than 850 million people.
“It is an opportunity that could not be missed by local companies,” said Abu Bakar.
For the period from January to July this year, Malaysia’s total trade with Turkey amounted to RM5.22 billion. Total exports were valued at RM4.24 billion while imports totalled RM0.98 billion.