Turkish steel industry cooperates with Malaysia

An important step has been taken in the Turkish stainless steel industry to increase supplies and diversify the market. The Turkish Association of Stainless Steel Industrialists and Businesses (PASID) has announced the signing of a memorandum of understanding with Bahru Sustainable, one of the leading stainless steel manufacturers in Malaysia. The agreement aims to create a non-exclusive and non-binding framework for cooperation and market development in the Turkish stainless steel industry, positioning Malaysia as an alternative supplier, especially of raw materials for stainless steel.

According to the memorandum, which does not create any obligations for purchase, sale, delivery or supply, PASID will provide assistance and support services to Bahru Sustainable in Turkey, including promotion of stainless steel products, market access and supply support.

Underlining the importance of the agreement for the industry, Arslan Kucukemre, Chairman of PASID, stated that Bahru Sustainable has become an alternative manufacturer for the industry, allowing Turkish companies to obtain the products they need from another supply channel.

Contribution to trade relations between Turkey and Malaysia

In addition to this agreement, which was signed during the Malaysian Prime Minister's official visit to Turkey on January 6-8, several memoranda were also signed aimed at boosting technology transfer and trade between the two countries. The goal of increasing the volume of bilateral trade between Turkey and Malaysia from $5 billion to $10 billion was also officially confirmed.