Türkiye Records Export Growth in Trade with Malaysia

(MENAFN) Turkish exports to Malaysia experienced a remarkable 52% year-on-year increase during the January-October period, reaching $509.5 million.

This surge is attributed to the combined efforts of both nations to strengthen commercial ties and emphasize collaboration in trade and tourism.

Türkiye is aiming to enhance its partnership with Malaysia, a key country in its “Far Countries Strategy,” focusing on sectors such as trade, tourism, defense, and investment initiatives.

Trade between Türkiye and Malaysia grew by 11.6% annually in the first ten months of the year, amounting to $4.3 billion, according to TurkStat, the nation’s official statistics office. By the end of 2024, total trade between the two countries reached $4.9 billion.

The upward trend in Turkish exports gained momentum following Turkish President Recep Tayyip Erdogan’s visit to Malaysia on February 10-11.

During this visit, approximately 11 agreements were signed, contributing positively to trade performance.

Key agreements focused on energy, trade, scientific research, and defense exports, reflecting a broadening of bilateral cooperation.

At a joint press conference, Erdogan and Malaysian Premier Anwar Ibrahim announced plans to raise the bilateral trade target from $5 billion to $10 billion.

Erdogan highlighted that technology transfer and joint production initiatives have created significant momentum in the Turkish defense sector.

He emphasized that collaboration with Malaysian firms ready to share expertise and products would continue, offering mutual benefits for both nations.

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