Malaysia-Turkiye US$10 Bln Trade Target Well Within Reach - PM Anwar

From Muhammad Saufee Rosman

ANKARA, Jan 7 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim described the US$10 billion (US$1 = RM4.05) bilateral trade target between Malaysia and Turkiye as well within reach, expressing confidence in the strength of both economies.

Anwar said that Turkiye has a strong and resilient economy, while Malaysia, although relatively smaller, is growing rapidly and has emerged as an attractive destination for high-value investments, particularly in semiconductors, artificial intelligence, data centres, and new technologies, including the rare-earth industry.

“And I think this type of collaboration will be more meaningful not only in terms of traditional levels of trade, but also in new disciplines, which will be cemented through education and research collaboration between the two countries.

“That is why the necessary mechanisms must be put in place,” he said in a joint press statement with Turkish President Recep Tayyip Erdogan, released in conjunction with Anwar’s official visit to Turkiye here today.

Anwar said Malaysia has benefited significantly from government-to-government procurement arrangements involving Turkiye’s defence industry, particularly in naval and aerospace production, describing the collaboration as a major advantage for Malaysia.

He said such cooperation also reflects a new model of partnership anchored on the principles of good governance and transparency.

The Prime Minister said the scope of bilateral cooperation would be further expanded to include the halal industry and Islamic finance, which he described as sectors with strong potential for both countries to jointly explore and advance.

Malaysia’s total trade with Turkiye from January to November 2025 amounted to RM21.2 billion (US$4.92 billion), underscoring Turkiye’s continued importance as an economic partner for Malaysia.

In 2024, Turkiye was Malaysia’s third-largest trading partner, largest export destination and fourth-largest source of imports among West Asian countries, with total trade valued at RM24.15 billion (US$5.28 billion).

-- BERNAMA