The Gateway To Southeast Asia: Malaysia

As one of the rapidly developing countries of the region and founding members of the Association of Southeast Asian Nations (ASEAN), Malaysia is an important economic partner for Turkey with its strategic location. The country holds great opportunities for Turkish businesspeople with the positive image Turkey has in the country, the free trade agreement between the two countries, top-level leader visits, and the close cultural relations. Ranking 12^th in the World Bank’s ease of doing business index, Malaysia stands out with its defence, energy, food, ready-wear, home textile, construction, tourism, aerospace industry, Islamic finance, and halal sectors. And the country imports significant amounts of machinery, tools, and equipment. Given our country’s development level in these sectors, Malaysia has serious potential, particularly for our machinery and equipment manufacturers. Importing 70% of its total food consumption, Malaysia has great potential especially in terms of fresh fruit and vegetable exports. Regarded as the “door to Southeast Asia”, Malaysia can be considered as a production and logistics base by our businesspeople to access countries in the region.

In my final words, I would like to state that ASEAN is the new centre of the world economy in the global competition of the USA and China with its growing population of 650 million. Together with the Regional Comprehensive Economic Partnership (RCEP) Agreement, which is the world’s largest free trade agreement, ASEAN is also a part of a globally effective trade bloc.

Chairperson, Turkey- Malaysia Business Council Hasan Gümüş