Ankara: Prime Minister Datuk Seri Anwar Ibrahim has expressed optimism about achieving the US$10 billion bilateral trade target between Malaysia and Turkiye, citing the robust economies of both nations.

According to BERNAMA News Agency, Anwar highlighted the strength of Turkiye's economy alongside Malaysia's rapid growth as a key factor in reaching this target. Malaysia has become an attractive destination for high-value investments in sectors such as semiconductors, artificial intelligence, data centres, and new technologies, including the rare-earth industry.

Anwar emphasized the importance of meaningful collaboration beyond traditional trade, advocating for partnerships in education and research. He underscored the necessity of establishing mechanisms to facilitate such collaborations, as stated in a joint press release with Turkish President Recep Tayyip Erdogan during Anwar's official visit to Turkiye.

The Prime Minister pointed out the significant benefits Malaysia has reaped from government-to-government procurement arrangements in Turkiye's defence industry, particularly in naval and aerospace production. He described this collaboration as a significant advantage for Malaysia, reflecting a partnership model based on good governance and transparency.

Anwar also mentioned plans to expand bilateral cooperation to include the halal industry and Islamic finance, sectors both countries could jointly develop. Malaysia's total trade with Turkiye from January to November 2025 was valued at RM21.2 billion (US$4.92 billion), highlighting Turkiye's role as a key economic partner for Malaysia.

In 2024, Turkiye was Malaysia's third-largest trading partner, largest export destination, and fourth-largest source of imports among West Asian countries, with trade valued at RM24.15 billion (US$5.28 billion).