Malaysia, Turkey to finalise entire package of expanded FTA by middle of 2022, says senior minister
24 Nov 2021
Malaysia and Turkey are set to conclude the text-based negotiations for an expanded free trade agreement (FTA) between the two countries by year-end and finalise the entire package by the middle of 2022.
Senior Minister Datuk Seri Mohamed Azmin Ali, who is also International Trade and Industry Minister, said that once concluded, the expanded FTA would also cover trade in services, investment and electronic commerce.
He said International Trade and Industry Ministry officials, led by secretary-general Datuk Lokman Hakim Ali, were in Ankara last week to meet with Turkish trade officials to negotiate the expansion of the existing agreement.
“I am pleased to share that the talks last week made substantial progress and both sides are now on track to conclude the text-based negotiations by the end of this year, and finalise the entire package of the FTA by the middle of 2022,” he said in his speech at the Turkish Aerospace Industries’ (TAI) new office opening ceremony in Cyberjaya today.
As of June 2021, a total of 13 manufacturing projects with Turkish participation had been approved with total investments of RM510.4 million.
Azmin said the government would continue to focus on attracting high-quality investments which have elements outlined in the National Investment Aspirations (NIA) framework.