Türkiye's bilateral trade with Malaysia increased in the first 10 months of the year, with exports rising 52% year over year to $509.5 million (TL 21.69 billion), driven by efforts to strengthen commercial relations and to focus on developing cooperation in trade and tourism.
Türkiye aims to deepen cooperation with Malaysia, a country included in its "Far Countries Strategy," in trade, tourism, defense and investment, among other areas.
The trade volume between Türkiye and Malaysia rose 11.6% year over year in the first 10 months of the year to $4.3 billion, according to a recent Anadolu Agency (AA) report citing official data from the Turkish Statistical Institute (TurkStat).
In 2024, trade between the two countries totaled $4.9 billion.
Following President Recep Tayyip Erdoğan’s visit to Malaysia on Feb. 10-11, Turkish exports to the country began to trend upward. During his visit, some 11 agreements were signed between the two countries, reflecting positively on trade figures.
Deals on energy, trade, scientific research and defense exports to Malaysia came to the fore.
Erdoğan and Malaysian Premier Anwar Ibrahim announced an increase in the bilateral trade target from $5 billion to $10 billion at a joint news conference.
Erdoğan said technology transfer and joint production projects had created momentum in the Turkish defense industry and would continue, with firms ready to share their know-how and products with Malaysia to benefit both countries.
Meanwhile, the number of tourists arriving from Malaysia to Türkiye rose 11% year over year in October, reaching 82,315, according to data from the Culture and Tourism Ministry.
The number of tourists from Malaysia is expected to exceed 100,000 by the end of the year, if the upward trend continues.
