KUALA LUMPUR, October 23 – SME Corp. Malaysia has achieved a significant milestone through the renewal of its Memorandum of Understanding (MOU) with Turkiye’s Small and Medium Sized Industry Development Organisation (KOSGEB) on September 11, 2023. The event, hosted at the Sheraton Imperial Kuala Lumpur, underscored the unwavering commitment of both nations to foster bilateral ties and promote the growth of Micro, Small, and Medium Enterprises (MSMEs).
The MOU renewal also marked the launch of the “Global Be-Linked” initiative, a dynamic platform facilitating business connections between Malaysian MSMEs and Turkish enterprises. This initiative led to 42 business matching agreements, involving 12 Turkish firms and 37 Malaysian MSMEs, amounting to a potential sales value of nearly RM9.6 million. In his welcoming address, Mr. Rizal bin Nainy, CEO of SME Corp. Malaysia, expressed, Under the esteemed banner of SME Corp. Malaysia, we find ourselves at a pivotal moment, poised to create an international legacy, guided jointly by Malaysia and Turkiye.
Our mission is crystal clear: we aim to fortify our shared bonds, champion the cause of MSMEs, and leverage the immense potential that our mutual interests offer. The ceremony was graced by the presence of His Excellency Emir Salim Yuksel, Ambassador of the Republic of Turkiye to Malaysia, and Dr. Fatih Gökyurt, Vice President of KOSGEB. This collaborative partnership traces its roots back to the initial MOU signed on February 22, 2011, subsequently renewed in 2017. Business-to-Business (B2B) interactions between the two nations have encompassed vital sectors such as Food & Beverages (F&B), Halal products, and Electrical & Electronics (E&E), reflecting past fruitful collaborations.
In February 2023, a joint business exploration mission to Istanbul and Sakarya, led by SME Corp. Malaysia in partnership with the Malaysia International Islamic Chamber of Commerce and Industry (MIICCI) and supported by KOSGEB, unveiled potential trade opportunities valued at approximately RM1.1 billion. Recent data from the Department of Statistics Malaysia (DoSM) underscores the paramount importance of facilitating market access for Malaysian MSMEs. In 2022, these entities achieved a remarkable 11.6% GDP growth, surpassing the national average of 8.7%. Consequently, their contribution to the GDP increased to 38.4%, up from 37.4% in 2021.
Regarding exports, Malaysian MSMEs recorded an impressive RM144.5 billion worth of export trade in 2022. As leading job creators, MSMEs constitute 48.2% of Malaysia’s workforce, employing a total of 7.59 million individuals. Therefore, ensuring market access and expansion opportunities for MSMEs through bilateral collaborations remains integral to Malaysia’s economic growth.
