KUALA LUMPUR – Amid an economic downturn and uncertainty caused by the Ukraine-Russia conflict, Prime Minister Datuk Seri Ismail Sabri has pitched for Turkiye to heighten its acquisition of Malaysian palm oil, among other trade opportunities.
Speaking at a joint press conference with his Turkish counterpart, President Recep Tayyip Erdogan, today, Ismail said Malaysia’s sustainable production of palm oil could benefit Turkiye as the latter is experiencing higher demand for biofuel.
“We also discussed Turkiye’s potential to increase their imports of Malaysian palm oil. Turkiye is the hub for palm oil-based products meant for the European continent and Central Asia.
“I was made to understand that Turkiye is encouraging the use of biodiesel as fuel in the transportation sector. Malaysia has begun to produce biodiesel from palm oil.
“This is in tandem with Malaysia’s objective in producing renewable energy,”' he said during the media briefing at Turkiye’s presidential complex in Ankara.
Ismail also said that he and Erdogan have agreed to expand the terms of the Malaysia-Turkiye Free Trade Agreement (MTFTA) that was first signed in 2014.
Both men had also discussed Malaysia’s potential as a trade hub in Asean.
“Both countries are in the final round of discussion to expand the scope of the Malaysia-Turkey Free Trade Agreement which involves new sectors such as investments, services and e-commerce,” he said.
As supply chain disruptions shock nations globally due to the Covid-19 pandemic and exacerbated by the war in Ukraine, Ismail said he and Erdogan both agree that food security remains an utmost priority.
To this effect, Ismail said both countries will increase exports of food products to each other while sharing experience and knowledge in the food sector with the ultimate goal of increasing food production.
He said Malaysia has also recognised degrees from 208 universities in Turkiye and expressed hope that this will increase education products from both nations.
Malaysia and Turkiye have also agreed to increase cooperation in the defence sector.
During his current official four-day visit to the country, Ismail visited its two major players in defence and aerospace – MKE Corporation and Turkish Aerospace Industries (TAI).
On international affairs, both Malaysia and Turkiye also reaffirmed their similar aspirations of liberating Palestine.
“Both nations along with other like-minded countries will continue to cooperate towards ending the Zionist regime’s occupation and the realisation of Palestine as a free and sovereign state,” said Ismail.
Ismail also praised Turkiye’s role in negotiating for reconciliation in the Ukraine-Russia conflict and called for all stakeholders to work toward ending the conflict peacefully. – The Vibes, July 7, 2022
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