Cross-border investments between Malaysia and Turkey are expected to increase when more businessmen better understand the opportunities in the two countries, local press reported Wednesday.
Malaysian International Trade and Industry Minister Rafidah Aziz said investments between the two countries, which currently stands at a very small volume, are expected to rise considerably with the joint efforts of business communities on the two sides.
"With greater efforts to disseminate relevant information to the respective business communities, there will be more understanding of the opportunities available to be exploited in both Turkey and Malaysia," Rafidah was quoted as saying by the New Straits Times (NST).
Rafidah made the remarks in a recent seminar hosted by the Turkish Embassy in Kuala Lumpur. The seminar aimed to attract Malaysian businessmen to participate in the Turkey-Pacific Foreign Trade Bridge Summit in Istanbul this April.
Between the year 1993 and November 2006, cumulative investment from Turkey in the manufacturing sector in Malaysia totaled only 101.3 million ringgit (27.38 million U.S. dollars) in seven projects.
This was mainly in food manufacturing, furniture and fixtures, plastics, textiles and textile products.
Cumulative investment in Turkey by Malaysian companies between the year 2000 and August 2006 amounted to only 300,000 ringgit (81, 081 U.S.dollars), according to the NST report.