THE Plantation Industries and Commodities Ministry (MPIC) has expressed its confidence that bilateral ties with Ankara will be further enhanced with the recent visit by Prime Minister Datuk Seri Ismail Sabri Yaakob to the republic.
“I am confident that warmer ties between both countries will boost bilateral trade, especially the export of Malaysia’s commodities, such as palm oil,” said its minister Datuk Zuraida Kamaruddin.
“The Prime Minister’s latest visit has not only enhanced diplomatic ties but has also resulted in deepening relations between the business communities of both countries and boosted Turkiye’s confidence in Malaysian palm oil.”
The Ampang MP said that the signing of several memorandum of understandings (MOUs) between both countries on July 7 – witnessed by Ismail Sabri and his Turkiye counterpart President Recep Tayyip Erdogan in Ankara – had only deepened bilateral ties.
“It has also added impetus towards Malaysia’s efforts to boost its commodities exports to Turkiye following a trade mission I personally led to the country between March 26 and March 30 this year,” she added.
Zuraida further noted that during her visit on March 27, she had met Turkish Minister of Trade Dr Mehmet Mus who had delved on Malaysia’s intentions to intensify the downstream activities of its palm oil industry.
Malaysia has also offered its expertise in natural rubber technology, mainly in seismic rubber bearings which are capable of absorbing earthquake tremors for the construction industry, including bridges and railways which are rapidly growing in Turkiye.
“Towards this end, MPIC is also appreciative of Turkiye applying tax exemptions as a result of the Malaysia-Turkiye Free Trade Agreement (MTFTA) signed in 2019, besides facilitating discussions on making Turkiye a hub for Malaysian Agri commodity products to Europe and Central Asia,” Zuraida commented.
“More specifically on the palm oil trade, MPIC had also clarified various issues pertaining to efforts by certain quarters to undermine the image of palm oil and its related products while calling on Turkiye to support Malaysia in the face of prejudice against palm oil products.”
Zuraida said that various meetings were also held separately with industry players in Ankara to promote Malaysia’s main Agri commodity products like palm oil, rubber, timber, cocoa and pepper.
“During my visit there, I also took the opportunity to speak to numerous captains of industries about the immense benefits of palm oil while countering false news about the commodity, in line with ‘The Global Movement to Champion the Goodness of Palm Oil’ campaign,” she recalled.
“Turkey remains an important market for Malaysian Agri-commodities. In 2021, the trade value of Malaysian Agri-commodity products with Turkey was worth RM6.02 bil with an export value of RM5.99 bil.
“Exports of our Agri-commodity products to Turkey increased by 49.5% from RM4.01 bil in 2020.”
Four major Agri-commodity products exported to Turkey are palm oil-based products (RM4.38 bil), followed by rubber (RM1.29 bil) cocoa (RM304.5 mil), and timber (RM8.43 mil).
“The Ministry is confident the PM’s visit to Turkiye would further strengthen the relationship between two countries built since 1964, thus boosting our country’s commodity exports,” Zuraida concluded. – July 11, 2022
