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Free Trade Agreement Between Malaysia And Eu

Negotiations for a Malaysia-EU Free Trade Agreement (MEUFTA) were officially launched on 5 October 2010. A total of 8 rounds of negotiations took place between December 2010 and September 2012. To learn more about merchandise trade between Efta and Malaysia, click here. The ninth round was the first full round of negotiations since March 2017, due to the change of government that followed Malaysia`s general elections in spring 2018. Trade policy priorities were then reassessed on the Malaysian side. Ensuring better access for EU exporters to the dynamic ASEAN market is a priority for the EU. Negotiations for an EU-ASEAN trade and investment agreement between the regions started in 2007 and were interrupted by mutual agreement in 2009 to become a bilateral negotiating format. These bilateral trade and investment agreements were conceived as building blocks for a future agreement between the regions. A free trade agreement (FTA) is an international agreement between two or more countries aimed at reducing or reducing barriers to trade and bringing economic integration closer together. The EU was Malaysia`s third largest trading partner in 2016, after China and Singapore.

In 2016, trade with the EU increased by 0.4% to .RM 149.1 billion. The round provided an 120-year-round for expert groups to take stock and pave the way for further negotiations in all areas under discussion. These include trade in goods (including market access for industrial and agricultural products), sanitary and phytosanitary measures, technical barriers to trade, trade barriers, rules of origin, trade facilitation, trade in services, investment, legal and horizontal issues, competition, intellectual property rights, public procurement, cooperation and trade, and sustainable development. Negotiations for a free trade agreement (FTA) between the EU and Malaysia began in 2010 and were frozen in 2012, at Malaysia`s request, after seven rounds. An inventory was drawn up in 2016-17 to assess the prospect of a resumption of negotiations. After malaysia`s May 2018 parliamentary elections, the new government has not yet taken a position on the possible resumption of negotiations. Merchandise trade between the EFTA states and Malaysia amounted to $1.64 billion in 2019. Exports from EFTA countries, totaling $814 million, consisted mainly of pharmaceuticals and machinery.

Although the EU-Malaysia FTA negotiations are frozen, a Sustainability Impact Assessment (SIA) has been launched to support the FTA negotiations between the two partners. The objective of the SAA is to assess the potential impact of the trade and trade provisions of the proposed free trade agreement on economic, social, human rights and environmental aspects in any trading partner and in other relevant countries. Unless otherwise stated, the « EU » refers, for all years indicated, to the current European Union of 27 Member States. At the ASEAN level, Malaysia has concluded 6 regional free trade agreements with the ASEAN Free Trade Agreements (AFTA), China, Korea, Japan, Australia, New Zealand and India. The EU is an important market for Malaysia, as it provides viable access to entry into the strategic euro area market. . . .