KUALA LUMPUR, July 7 (NNN-Bernama) — Malaysia and Turkiye have committed to continue to work expeditiously to accelerate the completion of negotiations on the expansion of the Malaysia-Turkiye Free Trade Agreement (MTFTA) as soon as possible, says the Malaysia\u2019s Ministry of International Trade And Industry (MITI).<\/p>\n\n\n\n
MITI said that included the commitment for concessions in respect of trade in services, e-commerce, and investment.<\/p>\n\n\n\n
\u201cThis was the highlight of the outcomes of the bilateral meeting between Senior MITI Minister Mohamed Azmin Ali and Turkish Trade Minister Mehmet Mus in Istanbul, yesterday,\u201d MITI said in a statement Thursday.<\/p>\n\n\n\n
In committing to fast-track the completion of negotiations, MITI said both countries acknowledged that such an expansion offers immense opportunities for Malaysia and Turkiye to enjoy and optimise their respective trade balance.<\/p>\n\n\n\n
As such, it said Turkiye is welcomed to use Malaysia as a hub for greater market access penetration into the world\u2019s largest FTA, such as the Regional Comprehensive Economic Partnership (RCEP) with the member countries accounting for a third of the world’s population and global gross domestic product (GDP).<\/p>\n\n\n\n
MITI said both countries had also agreed that they should optimise and utilise the tariff concessions made available under the MTFTA.<\/p>\n\n\n\n
\u201cMalaysia, through Malaysia External Trade Development Corporation (MATRADE), has offered to embark on technical cooperation and capacity-building activities with the relevant trade authorities in Turkiye to further enhance trade performance,\u201d it said.<\/p>\n\n\n\n
It added that the expanded MTFTA package would also facilitate the movement of professionals and skilled workers to supply their services in both Turkish and Malaysian markets.<\/p>\n\n\n\n
According to MITI, Mehmet had also proposed to hold a Joint Economic Trade Council meeting with Malaysia in Turkiye by the third quarter of this year.<\/p>\n\n\n\n
Azmin welcomed the proposal as he is confident that the meeting would further enhance the bilateral trade and economic ties between the two nations.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, July 7 (NNN-Bernama) — Malaysia and Turkiye have committed to continue to work expeditiously to accelerate the completion of negotiations on the expansion of the Malaysia-Turkiye Free Trade Agreement (MTFTA) as soon as possible, says the Malaysia\u2019s Ministry of International Trade And Industry (MITI). MITI said that included the commitment for concessions in […]<\/p>\n","protected":false},"author":30,"featured_media":100861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/182655"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=182655"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/182655\/revisions"}],"predecessor-version":[{"id":182656,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/182655\/revisions\/182656"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/100861"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=182655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=182655"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=182655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}