KUALA LUMPUR, March 1 (Bernama) -- Bilateral trade between Malaysia and
Turkey has the potential to touch US$5 billion after the proposed free trade
agreement (FTA) is inked this year, International Trade and Industry Minister
Datuk Seri Mustapa Mohamed said Thursday.
He said that in 2011, the movement of goods and services between Kuala Lumpur
and Ankara stood at US$1.09 billion with Malaysia's exports to Turkey totalling
to US$930 million (US$1 = RM3).
"Malaysia is very commited for the conclusion of the negotations towards
the realisation of the FTA.
"I hope, in another three to four months, the negotations can be
concluded. Within a short period of time after the signing, trade can increase,"
he told reporters after opening the 3rd Turkish Products Exhibition at Kuala
Lumpur Convention Centre.
"An FTA would see a reduction in tariffs which will ease the movement of
Turkish products to Malaysia and Malaysian products to Turkey.