Compared to its neighbours in Southeast Asia, Malaysia was late to get on the FTA train. But now it does not want to be left out of the major deals, it seems.
Malaysia signed its first FTAs with Japan in 2005. In 2007, it signed with Pakistan. It also has FTAs with Chile (2010) , India (2011) and New Zealand (2009), It has been in FTA talks with the US, but these have effectively been shelves since 2009. It is in negotiations with Australia, and may commence negotiations with the GCC and EFTA.
As member of ASEAN, it is also party to the agreements with China, India, Korea and Japan, and the negotiations with Australia/New Zealand and the EU.
last update: May 2012
Both nations will establish working groups to address trade matters that include labour, intellectual property and the environment.
Bilateral consultations are underway between Malaysia and the US to enhance the economic and trade relationship between the two countries in a bilateral channel.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysia is keen to revive the framework agreement but there have been challenges.
In the absence of the Trans Pacific Partnership Agreement, bilateral trade agreements with trading partners would be a ‘doable and more realistic’ option for Malaysia, International Trade and Industry Minister said.
The Plantation Industries and Commodities Ministry is positive Malaysia’s total export of palm oil and palm oil products to Iran will grow by 30%-40% under a preferential or free trade agreement.
President Datuk Syed Ali Alattas to take advantage of Sudan’s free trade agreement (FTA) with the European Union by investing in the African country.
Malaysia will embark on a bilateral free trade agreement (FTA) talks with Iran to take advantage of the potential growth of bilateral business.
Malaysia and Sri Lanka have agreed to explore the possibility of initiating the Malaysia-Sri Lanka Free Trade Agreement in efforts to promote trade between the two countries.
International trade has been an important component in the economies of the Malay Archipelago. Despite this, the extent to which international trade affects our daily lives may not be fully appreciated by many of us.
Consumer prices of dairy products imported from New Zealand will most likely remain at the current level although the free trade agreement (FTA) between the southern country and Malaysia will fully kick off in 2016.