The new government of Malaysia will continue its "friendly" relationship with China and "make best use" of its initiative to create a 21st-century Silk Road to connect East Asia with Europe, Prime Minister Mahathir Mohamad said on Monday.
Leader’s visit to Japan seen as a sign of Malaysia’s move away from China, which pumped billions of dollars into the previous administration.
The Government of Malaysia has said that while it has good bilateral relations with China, it would not be keen to go overboard in getting involved in Beijing’s BRI.
The Consumer Association of Penang (CAP) is urging the government to assess its position in regional trade agreements like the TPP and the RCEP.
Trade deals cover many key issues besides trade and have huge implications for economic and social development, so they should also come under review by the new government.
The Malaysian government will review several trade agreements such as Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) to see if its viable to be part of the trade partnerships.
Renegotiating the Trans-Pacific Partnership Agreement (TPPA) to make significant changes may be difficult, says Datuk Seri Mustapa Mohamed, Malaysian Minister of International Trade and Industry.
Malaysia is studying the possibility of establishing a free-trade agreement (FTA) with Brazil, International Trade and Industry Ministry Secretary-General Datuk Seri J Jayasiri said.
In a speech at the Malaysia Business Forum, Trade Secretary Ramon M. Lopez revealed that the RCEP will have substantial documents ready before the end of Singapore’s chairmanship of the Association of Southeast Asian Nations summit. This was agreed upon by trade ministers of RCEP negotiating countries in their recent meeting in Singapore.
Following the signing of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) last week, Malaysia is now shifting its focus to conclude the Regional Comprehensive Economic Partnership (RCEP), said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
Palm oil would be at the top of Malaysia’s agenda on its free trade talks under the Asean with the European Union (EU).
Malaysia’s free trade agreement talks with the European Union (EU) must address trade barriers that discriminate palm oil because this is a priority, a Cabinet minister said.
In 2018, the Trump administration will continue efforts to build stronger, better and fairer trading relationships with Japan, Vietnam, Malaysia, New Zealand and Brunei.
Malaysia’s Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said he was confident the meeting, which would be held in Singapore, would serve as a platform to bridge the gap between Asean and other countries.
Unlikely that a US-Malaysia FTA will transpire anytime soon, says American Malaysian Chamber of Commerce
Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said, "Malaysia has been an open economy dependent on trade and we have been one of the biggest supporters of free trade."
It is now time we open up the dialogue on the kind of trade agreements that we want to see in place.
Consumers Association of Penang says the new agreement will be even worse than the original as there will not even be the benefit of selling more exports to the US.
The European Union Parliament’s vote to ban the use of palm oil in biofuels by 2021 has cast a cloud over the ongoing free trade negotiations between Malaysia and the 28-member bloc.
Parti Sosialis Malaysia (PSM) said it would fight all trade agreements that it considered unfair and only favoured big corporations, including a new regional economic partnership that is set to replace the US-sponsored Trans-Pacific Partnership Agreement (TPPA).