Matrade Gears Up To Increase Export Of Food Products To Turkey

KUALA LUMPUR, Sept 3 (Bernama) -- Malaysia External Trade Development Corporation (Matrade) is on a four-day Specialised Marketing Mission (SMM) to introduce Malaysian food products in Istanbul, Turkey starting Thursday. The event, held in conjunction with the World Food Istanbul 2015, is the largest and most successful food and packaging exhibition in Turkey. This is Matrade's first participation at the event, with 10 Malaysian companies showcasing their products. "The marketing mission provides good trade opportunities as well as exposure to the companies on the trends and export requirements," Matrade Istanbul Director Idzham Ab. Hamid said in a statement Thursday. The Malaysian companies joining the SMM include exporters of beverages, food ingredients, flavouring and colouring, herbal products, confectionery and snacks and fruits. More than 120 business meetings have also been lined up between the Malaysian companies and Turkish buyers made up of importers, distributors and retailers. Idzham said the Malaysian companies could consider Turkey as a gateway to the European Union (EU) market as it is an EU Customs Union member. Furthermore, Malaysian exporters should capitalise on the growing needs for halal products in Turkey. With a large young population, rising spending power and a widespread presence of modern international retail outlets, Turkey continues to offer a dynamic consumer base for growth in the food and beverages sector, he said. Matrade is encouraging Malaysian exporters to take full advantage of the opportunities offered under the Malaysia-Turkey Free Trade Agreement (MTFTA) and benefit from preferential access for their products in Turkey. In 2014, total trade between Malaysia and Turkey amounted to US$748.29 million (RM3.17 billion). (US$1 = RM4.23) Malaysia's exports to Turkey totalled RM2.46 billion, while imports amounted to RM0.71 billion. Malaysia’s exports of processed food to Turkey for the January-June 2015 period increased 59.2 per cent to RM30.5 million compared with the same period last year. Major processed food products being exported include food preparations and ingredients, margarine and shortening as well as cocoa and cocoa preparations. The MTFTA, which came into effect on Aug 1, 2015, is expected to help strengthen bilateral trade and economic linkages between the two countries. -- BERNAMA