Bernama | 31 Oct 2013

FTA talks with EU postponed to give way to TPPA negotiations

KUALA LUMPUR, Oct 31 (Bernama) — The negotiations on the free trade agreement (FTA) between the European Union (EU) and Malaysia were postponed to give way to the Trans-Pacific Partnership Agreement (TPPA) talks, said the Ministry of International Trade and Industry.

Its Deputy Minister, Datuk Hamim Samuri, said the ministry would focus on the completion of the TPPA talks and then resume the EU-Malaysia FTA negotiations.

"Whether we sign the TPPA or not, the FTA talks with the EU will be resumed later," he told reporters after officiating the Federation of Malaysian Manufacturers’ Export Conference 2013: Driving Export Sales here Thursday.

He said under the FTA, Malaysia would get special treatment of ’zero tax’ from the EU.

Meanwhile, EU Ambassador and Head of Delegation to Malaysia, Luc Vandebon, said on completion of the FTA, both countries would have tax-free access to each other’s markets and this would benefit exporting companies.