Turkey, Malaysia agree to improve defense industry cooperation

Malaysia our top trade partner in ASEAN region of 650M people, says Foreign Minister Cavusoglu

As two strategic partners, Turkey and Malaysia on Monday announced they have agreed to further improve cooperation in all areas, especially the defense industry.

“We are resolved to improving our relations on every front when it comes to especially using our potential well in the upcoming period,” Turkish Foreign Minister Mevlut Cavusoglu told a joint press conference in Ankara with his visiting Malaysian counterpart Saifuddin Abdullah.

Telling how the two officials discussed the economy, trade with local currencies, investment, health, the defense industry, security, and the fight against terrorism, Cavusoglu added: “Malaysia is our top trade partner in the ASEAN (Association of Southeast Asian Nations) region of 650 million people.”

With the trade volume between the two countries in the first 11 months of this year surging by 7% compared to last year, Cavusoglu noted that the bilateral trade volume rose more than 30% to $3.5 billion.

After a rise in bilateral trade of more than 30% in the first 11 months of this year to $3.5 billion, Cavusoglu added: “We must increase this figure to $5 billion and then to $10 billion. Our free trade agreement should be expanded in order to include e-commerce services.”

On defense industry cooperation, Cavusoglu said Turkish companies are “closely interested in defense industry tenders for Malaysia.”

“Some of our companies have won tenders in the past and these companies have delivered the products before deadline. We have many other companies entering various tenders … Malaysian investment in our country is on the rise as well,” he said.

He added that the two officials agreed to boost cooperation in the areas mentioned as well as defense.