Malaysian-Turkish FTA effective on August 1

July 23, 2015 3:44 PM

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Kuala Lumpur, July16 (BNA): The Free Trade Agreement bonding Malaysia and Turkey will come into force on August 1. Malaysian Minister of International Trade and Industry Mustapha Mohamed stressed the importance of the agreement on strengthening long-term economic cooperation.

In a statement to Malaysian National News Agency (BERNAMA), he said that the two countries agreed to cancel the taxes on exports once the deal comes into force. The overall volume of the Malaysian and Turkish trade exchanges topped $969 million in 2014. Malaysian exports to Turkey hit $752 million, while Turkish exports to Kuala Lumpur topped $217 million for the same period.


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