PUTRAJAYA, Feb 11 — Malaysia will continue to support the small and medium enterprises (SMEs) as they are the backbone of the country and constitute the vast majority of businesses in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.
He said that the National Chamber of Commerce and Industry of Malaysia, the Foreign Economic Relations Board of Turkiye and both respective ministries of each country should give their focus on this second tier, to further innovate and be more creative to ensure that SMEs are given priority.
"Malaysia, for example, in our national policies, masterplans… we do give a set of priorities in the semiconductors for SMEs, where the entire strategy is based on the supply chain, and most of it is in that category (SMEs).
"We can have all the conglomerates, but we can only succeed if we also focus on the SMEs in terms of effective supply chain and given the chance to expand," Anwar said in his keynote address at the Malaysia-Turkiye Business Forum today, which was attended by Turkish President Recep Tayyip Erdoğan.
In 2024, Turkiye was Malaysia's third-largest trading partner, largest export destination, and fourth-largest import source among West Asia countries.
Total trade between Malaysia and Turkiye was recorded at RM24.13 billion (US$5.28 billion) in 2024, reflecting an 18.7 per cent increase from 2023.
Meanwhile, the Prime Minister said Erdoğan exemplifies a leader who's very committed to build up Turkiye as a greater nation.
“And I think we share that idea for Malaysia and in the context of Asean, we are very fortunate,” he said.
Anwar added that he is confident the synergy between Turkiye and Asean would help because the collaboration, trust, and friendship among Asean leaders are unrivalled compared to other countries.
“Asean happens to be the most peaceful region and is among the fastest growing economies in the world.
“So avenues and opportunities are great. We have, for example, collaboration in energy — the Asean Energy Grid from Vietnam to Laos to Thailand, Cambodia, Peninsular Malaysia, Singapore, Indonesia, Sarawak, Sabah, South Philippines, and again into Batam, Indonesia.
“We have focused also on the digitalisation of the whole region. My team has been focusing on this and I am very optimistic,” he said.
Anwar also noted another example where Malaysia and Thailand are working together to improve the economy and security in the weakest areas and provinces in southern Thailand
Besides, there is also the unique collaboration of the Johor-Singapore Special Economic Zone (JS-SEZ) where both countries work together to promote themselves.
“You will rarely find this (collaboration). Turkiye is dealing with Malaysia with its capacity to expand its market and collaboration with other countries in Asean,” he said.
Erdoğan arrived in Malaysia on Monday for a two-day official visit, accompanied by First Lady Emine Erdoğan.
— Bernama
