Malaysia to boost economy and finances by working on a huge trade alliance

Malaysia is a small economy but has a big reputation in the world markets for its Islamic financing and Islamic Capital. In the shadow of the U.S.- China trade war Malaysian economy is going through ups and downs as most of the economies around the globe are.

Malaysia is all set to make its entry into the European and African markets with the trade deal in position with Turkey. Malaysia and Turkey are working on a deal for their bilateral trade to grow their trade revenue from 2.8 billion USD to 5 billion USD in the coming years. At the Trade Talk session with Republic of Turkey, arranged by the Asian Strategy and Leadership Institute, on 10th of September, 2019, Turkish Ambassador to Malaysia Dr Merve Kavakci stated that Turkey and Malaysia can look forward to working together in the area of technological development to provide employment opportunities for the people of both countries, as well as food and services and electronics. Malaysia is a well-known name in the East for its halal food. Turkey can be a gateway to advertise Malaysian products aiming specifically at the Muslim majority countries of the European as well as African continents.

Dr Merve Kavakci also said that her country was looking forward to the next meeting between Prime Minister Tun Dr Mahathir Mohamad and President Recep Tayyip Erdoğan during the 74th session of the United Nations General Assembly in New York later this month. This trade deal can boost both the economies and provide financial stability to both their trade markets and bring in new investments too.