PUTRAJAYA: The Ministry of Domestic Trade and Cost of Living (KPDN) and together with the Ministry of Trade of Turkiye have agreed to set up a committee that will drive and monitor all aspects of the implementation of the Memorandum of Understanding (MoU) signed by both parties.
Minister of Domestic Trade and Cost of Living Datuk Armizan Mohd Ali said both parties had inked the MoU, which focuses on cooperation related to aspects of consumer protection and market monitoring and inspection in conjunction with Turkiye President Recep Tayyip Erdogan’s two-day official visit to Malaysia, which ended yesterday.
“The existence of this cooperation and the setting up of this committee will be the right step, thus providing benefits and opportunities for both countries in sharing best practices, expertise, experience and knowledge for improving policies and implementing programmes in the agreed fields,” he said in a statement today.
The MoU was signed by Armizan and Turkiye Trade Minister Prof Dr Omer Bolat yesterday and the MoU document exchange was also witnessed by Prime Minister Datuk Seri Anwar Ibrahim and Erdogan.
Armizan said the formal cooperation is a continuation of discussions and pioneer efforts that were agreed upon with the Turkiye Trade Minister during his working visit to Turkiye last September.
“Through this MoU, both nations will benefit, including exploring cooperation to deepen aspects of product safety standardisation, digitalisation approaches as well as data collection and analytics in reporting on consumer and product prices.
“This includes complaint management methods and mechanisms for monitoring the prices of goods and services,” he said.
