All committed to boosting M’sia-Turkiye trade pact

PETALING JAYA: Malaysia and Turkiye have made a commitment to continue accelerating negotiations on the expansion of the Malaysia-Turkiye Free Trade Agreement (MTFTA) as soon as possible, says the International Trade and Industry Ministry (Miti).

It also said this included a commitment for concessions for trade in services, ecommerce and investment.

According to Miti, this was the highlight of a bilateral meeting at the Dolmabahce Palace in Istanbul yesterday between International Trade and Industry Minister Datuk Seri Azmin Ali and his Turkish counterpart Dr Mehmet Mus, who is Turkiye’s Trade Minister.

“The meeting was fruitful and comprehensive by all accounts with special focus on the very promising progress we have made so far in respect of the expansion of the MTFTA.

“Both sides acknowledged the importance of this expanded FTA as being the lynchpin in taking our bilateral economic and trade relations to the next level,” Azmin said in a statement, Bernama reported.

Miti said both ministers have agreed to optimise and utilise the tariff concessions under the MTFTA, and Malaysia, through Matrade, had offered to embark on technical cooperation and capacity-building activities with Turkish trade authorities.

“The expanded MTFTA package will also facilitate the movement of professionals and skilled workers to supply their services in both the Turkish and Malaysian markets,” added Miti.

It also said Azmin had welcomed a proposal by Dr Mehmet to organise a Joint Economic Trade meeting in Turkiye by the third quarter of this year.

“Such a meeting would be most opportune. I am confident it will further enhance our bilateral trade and economic ties,” Azmin said.