Turkiye is a gateway to European market, expands Malaysia halal industry

Turkiye is identified as a strategic gateway to the European market, thus opening up opportunities for Malaysia to expand investment and develop the halal industry globally.

Chief Executive Officer (CEO) of Malaysian Investment Development Authority (MIDA), Sikh Shamsul Ibrahim said, Malaysia and Turkiye will exchange Memorandum of Understanding (MoU) with a Turkiye investment agency to strengthen bilateral cooperation in investment and industry. 

“We will exchange MoU with Invest in Turkey to intensify cooperation, including attracting more Turkiye investment into Malaysia as well as Malaysia investment into Turkiye,” he said to TV3, yesterday.

According to the CEO, the cooperation also includes the fields of industry and technology, since Turkiye is strong in the aerospace and defense sectors that provides a surplus of supply chain into non-defense sectors.

“We hope to attract more multinational supplier companies from Turkiye to explore opportunities in Malaysia, positioning our country as a stepping stone for them to penetrate the Asian market,” he said. 

Turkiye and Malaysia have developed a long history of relationship, spanning over six decades since the first diplomatic relations in 1964.

Meanwhile, CEO of Malaysia External Trade Development Corporation (MATRADE), Abu Bakar Yusof said, Turkiye is not just an export market, but serves as a gateway to European and Balkan markets.

“We are looking at Turkiye beyond its domestic market, but also as a gateway to the European and Balkan markets.

“This is a big opportunity for Malaysian exporters to utilize Turkiye as a hub to penetrate the European Market,” he said to TV3.

He said various sectors can be potentially utilized through the cooperation, including halal industry that will be scaled in parallel to the strategic position and majority Muslim population in Turkiye.