ANKARA: Malaysia and Turkey are pursuing high-profile bilateral as well as proactive trade and investment linkages through greater economic cooperation to ensure citizens of both countries prosper further through such mutually beneficial ties.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed, said Malaysians and Turks should look for new pragmatic efforts to set the tone for the development of future relations.
“I urge everyone here to have the ability to develop and sustain this high profile relations,” he said at a dinner as part of his two-day working visit to Turkey in conjunction with the signing of the Malaysia-Turkey Free Trade Agreement.
The dinner was attended by over 60 officials from both Turkey’s private sector, government agencies, Malaysian students and the media.
“Our relations should get new impetus following the signing of the FTA,” he said adding that, over US$1 billion in investments in Turkey, made by Khazanah Nasional Bhd, the government’s investment arm, reflected Malaysia seriousness to improve bilateral ties.
Khazanah is the largest investor with a co-investment of US$1 billion via investee company, Integrated Healthcare Holdings (IHH), for a 75 per cent stake in Acibadem Saglik Yatirimlari Holding AS, the largest healthcare service provider in Turkey.
Mustapa also said that four potential Turkish investors have planned to set up operations in Malaysia in view of the strategic location and strong government-to-government relations between the two countries.
He said that among the companies were Turkish Technic, which has expressed its interest to set up maintenance, repair and operations (MRO) in Malaysia and collaborate with capable Malaysian companies in developing an aerospace supply chain.
Based at Instanbul’s Ataturk Airport, Turkish Technic is the leading aircraft MRO services company in the region.
Another company, Pakkens Inc wants to produce industrial valves and is currently in the midst of applying for representative office status to conduct feasibility studies in Malaysia.
It is also the first manufacturer of thermostatic radiator valves in Turkey with an annual sales of US$29.7 million.
Eymak Group, which is in the midst of looking for a new investment location for the production of ball bearings, believes Malaysia is one of the potential locations.
The company has been operating through dealers in Turkey, Iran, Syria, Iraq and Lebanon, as well as, in all Middle Eastern countries.
The fourth company, Mado Cafe, has indicated its interest in food manufacturing and distribution of its ‘Mado’ brand ice-cream in Malaysia. — Bernama