Turkish exports to Malaysia jump 52%, led by diplomacy and trade

Türkiye's exports to Malaysia surged by 52% in the first ten months of this year, reaching $509.5 million. The growth follows a state visit and new agreements, with both countries now targeting a bilateral trade volume of $10 billion, up from a previous $5 billion goal.
Türkiye's exports to Malaysia have risen sharply this year, increasing by 52% year-on-year to reach $509.5 million in the January-October period. The surge is attributed to concerted diplomatic and commercial efforts between the two nations, which are now aiming to significantly expand their overall economic partnership.
Diplomatic Push and Revised Trade Targets
The positive trend gained momentum following a visit by Turkish President Recep Tayyip Erdoğan to Malaysia in February, where 11 cooperation agreements were signed. During a joint press conference with Malaysian Prime Minister Anwar Ibrahim, the leaders agreed to double their bilateral trade volume target from $5 billion to $10 billion. Türkiye views Malaysia, part of its "Far Countries Strategy," as a key partner for cooperation in trade, tourism, defense, and investment.
Sectoral Growth and Tourism Increase
Deals in energy, scientific research, and notably defense exports have come to the fore. President Erdoğan highlighted that technology transfer and joint production projects in the Turkish defense industry have created momentum for such cooperation. Concurrently, tourism from Malaysia to Türkiye is growing, with arrivals in October up 11% year-on-year to 82,315, putting the country on track to exceed 100,000 visitors for the year.
Overall Trade Volume and Strategic Outlook
According to data from the Turkish Statistical Institute (TurkStat), the total trade volume between the two countries reached $4.3 billion in the first ten months of 2024, an 11.6% annual increase. The full-year volume for 2023 was $4.9 billion. The figures underscore a rapidly deepening economic relationship driven by high-level political commitment and a strategic focus on mutual growth.
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