Since 2022, Türkiye was Malaysia’s 18th largest trading partner and 17th largest export destination. The total export from Malaysia to Türkiye as of January to May 2023 is recorded at USD 1.68 billion, with total trade at USD 1.93 billion. Currently, the major export products to Türkiye are palm oil and palm oil-based agriculture, aluminium and articles, electrical and electronics, laminated glass, and chemicals and chemical.
Türkiye presents wide opportunities for export as they have a large youth population and were ranked as the 18th largest e-commerce market in 2022. In addition, Türkiye serves as an efficient and cost-effective hub to major markets. The country has a strategic link to Europe, Asia and Africa, providing easy access to customers in those markets. Türkiye also offers a gateway to the EU, which covers all industrial goods.
Türkiye is one of the fastest growing economies in the world, and was recorded as 11th largest economy in the world. Besides that, Türkiye has established 22 Free Trade Agreements (FTAs) with 38 countries. The Malaysia-Türkiye Free Trade Agreement (MTFTA) was established since 1 August 2015, resulting in the elimination of tariffs for 78.45 percent of tariff lines.
Recently, Türkiye has enforced the Faraway Country Strategies 2022 to 2024, which aims to increase exports of Türkiye products to the 18 farthest countries. Malaysia is strategically positioned to be the hub through which Türkiye products are channeled to reach regional markets and beyond.
Food and beverages (F&B) are one of the top potential sectors for export to Türkiye. F&B is the most active sectors in the country, and there is a growth in the Hotel, Restaurant and Café (HoReCa) sector due to international tourism. Products with high export potential includes ready-to-eat meals, ready-to-cook meals, frozen seafood and food ingredients. Food ingredients includes cocoa butter, cocoa powder and margarine.
Prior to exporting to Türkiye, exporters will need to research on the importation requirements, such as import control and inspection, EU Regulation, import licenses and others. Malaysian companies who require more information on exporting to Türkiye may reach out to MATRADE for enquiries and assistance.
For more enquiries, please contact:
MATRADE Istanbul
No. 76, 20th Floor, Buyukdere Caddesi
Maya Akar Center Plaza
Esentepe, Istanbul 34394,
Turkiye
E: istanbul@matrade.gov.my
T: +90 212 217 8003
Sources:
MATRADE Webinar (Türkiye: Leveraging Its Dynamic Market)