An official delegation of 9 Malaysian SMEs, led by Small and Medium Enterprises Corporation Malaysia (SME-Corp. Malaysia) which is the Malaysian counterpart of KOSGEB and organised by Malaysia International Islamic Chamber of Commerce and Industry (MIICCI) was hosted by KOSGEB İstanbul İMES Directorate on 27th February 2023. The delegation was welcomed by Mr. Selim Serkan ERCAN, Head of European Union and Foreign Relations Department of KOSGEB and Mr. Ertuğrul ÇETİNKAYA, Director of İstanbul İMES Directorate and was briefed about KOSGEB’s activities in the field of SMEs. A presentation on “Investing and Doing Business in Türkiye” was made to Malaysian enterprises by representatives of İstanbul Investment Office of Turkish Republic’s Presidency. After the briefing of Turkish Side, Mr. Hj. İsmail HASHIM, representative of SME-Corp. Malaysia, made a presentation introducing his organization and it’s activities.
Afterwards, business to business (B2B) meetings were held between the 9 Malaysian enterprises and the representatives of 28 Turkish SMEs participating in the event. Intensive B2B meetings were held especially between the enterprises in manufacturing food and bevereges, sports nutrition supplements, halal foods, skin care products and cosmetics sectors.
In the afternoon part of the programme, the Malaysian Delegation was taken to İstanbul Technopark. During the programme, firstly a briefing was given about the Technopark, the R&D and “CUBE” Incubation Centres, then business visit was made to the some SMEs activating in cosmetics sector and skin care products manufacturing.
Trade Relations between Malaysia and Türkiye:
According to current prices, Malaysia's GDP is expected to be around USD 467 billion in 2023. Malaysia is the 36th largest economy in the world out of 196 countries.
In 2021, the country's exports and imports were $299 billion and $238 billion, respectively.
According to the datas of Ministry of Trade of the Turkish Republic, Türkiye’s exports to Malaysia was 445 million USD, while imports were 3.1 billion USD in 2021. With the Free Trade Agreement (FTA) between Türkiye and Malaysia, which entered into force on 1 August 2015, the trade volume between Türkiye and Malaysia has increased significantly.
When Türkiye’s bilateral trade with Malaysia is considered, iron-steel, jewellery, carpets and floor coverings, machinery, mechanical devices and instruments in exports; animal and vegetable fats and oils, aluminium and products, rubber and products, electrical machinery and devices in imports come to the fore.
Potential Cooperation Issues between KOSGEB and SME-Corp. Malaysia for the Up-Coming Period in the field of SMEs:
At the end of the programme, MIICCI President Hj. Mohamad Amin FAHMI thanked the KOSGEB representatives for the hospitality and support shown to the Malaysian Delegation. Senior Manager in International Relations Division of SME-Corp. Malaysia Mr. Hj. Ismail HASHIM also expressed his gratitude to all KOSGEB for the activities held throughout the day under the organisation of Turkish counterpart organisation KOSGEB.
The Malaysian delegation stated that this was the first event where Turkish and Malaysian SMEs came together and they expressed their desire to organise the second joint event in Malaysia to bring together the SMEs of both countries.
KOSGEB plans to actively organise B2B activities both in Malaysia and Türkiye on a regular basis. In addition, KOSGEB and SME-Corp. Malaysia are planning to sign a Memorandum of Understanding for co-operation in the field of SMEs at the next joint event, and as a result, it is aimed to develop inter-institutional cooperation.