Erdogan wants more Malaysian companies to invest in Turkey

ANKARA: The President of Turkey, Recep Tayyip Erdogan is inviting more Malaysian companies to invest in his country, especially in the defence industry.

Describing Malaysia as a close friend, Erdogan hoped the relationship would be expanded to increase the trades between the two countries.

“I want to see and aim for the trade value between Turkey and Malaysia to reach US$5 billion (RM20.6 billion),” he said in a joint press conference with Tun Dr Mahathir Mohamad here yesterday.

In 2018, the trade between the two countries recorded RM9.79 billion. Malaysia's exports hit RM7.97 billion, while imports from Turkey were RM1.82 billion.

Turkey is Malaysia's third largest trading partner from West Asia, while for Turkey, Malaysia is its largest trading partner in Asean.

Earlier, Dr Mahathir spent time reviewing combat and drone helicopter industries at Turkish Aerospace Industries (TAI) in Ankara.

Erdogan said Dr Mahathir's visit here would give the opportunity to increase investment apart from the two countries having a free trade agreement (FTA).

“We will expand cooperation and investment in the tourism sector and I hope to work with Malaysia in all sectors in the future,” Erdogan said.