Malaysia proposes D-8 trade target of US$500 billion to Cabinet

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Malaysia's D-8 trade target

Highlights

Malaysia's proposed D-8 trade target of US$500 billion will be brought to Cabinet after discussions with the Prime Minister and Foreign Minister.
Malaysia will consider proactive measures to increase trade among D-8 member states, leveraging the group's market strengths and economic potential.
Malaysia is considering increasing imports of goods from Türkiye to address the trade imbalance, which currently favours Malaysia.

This article was translated from the original. Read the original version by our correspondent here.

Government steps towards the 2030 trade target

As reported by The Edge Malaysia, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said he would first discuss the matter with Prime Minister Datuk Seri Anwar Ibrahim and Foreign Minister Datuk Seri Mohamad Hasan to consider steps Malaysia could take to achieve the target.

He said the target could be achieved through proactive measures to increase trade among member states, leveraging the group's market strengths and economic potential. Ahmad Zahid said the matter was discussed in depth during a courtesy call by D-8 Secretary-General Sohail Mahmood on 6 Nov, and that he would present it to the prime minister and foreign minister.

Established in 1997, the D-8 serves as a platform for economic cooperation among its member states: Azerbaijan, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Türkiye. Azerbaijan joined the group in 2025, while the organization was formally announced through the Istanbul Declaration on 15 Jun 1997.

Malaysia-Türkiye trade balance draws attention

In a related development, Ahmad Zahid said he would consult Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani on steps to address the trade imbalance between Malaysia and Türkiye, which currently favours Malaysia.

He said Türkiye had also raised the matter and asked Malaysia to explore opportunities to increase imports of goods and products to create a more balanced trading relationship. Accordingly, Malaysia was asked to consider the possibility of importing a larger volume of goods and products from Türkiye.

Ahmad Zahid concluded a four-day working visit to Türkiye on Sunday, with the visit focusing, among other things, on strengthening the Malaysia-Türkiye strategic partnership in diplomacy, trade, defence and education. During the visit from 5 to 8 Nov, he also took part in the TRT World Forum 2026 at the Istanbul Congress Center on 6 Nov, which brought together political leaders, policymakers and academics to discuss geopolitical challenges and international developments.

In our previous coverage of the initiative KL20, Malaysia set a target for 2030 of attracting RM700 million in venture capital investment and adding 2,000 to 3,500 active startups to strengthen the national startup ecosystem. The article also outlined KL20's focus on access to funding, global market expansion and the commercialization of research, including the role of the KL20@Kuala Lumpur event as a platform for connecting founders with investors across several strategic sectors.

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