Tuesday June 13, 2006

Japan-Malaysia FTA to take effect on July 13

(Kyodo) — A free trade agreement between Japan and Malaysia will take effect on July 13 to scrap tariffs on essentially all industrial goods and most agricultural, forestry and fishery products within 10 years, the Japanese government said Tuesday.

Official documents on the FTA’s entry into force were exchanged between Japanese Ambassador to Malaysia Tadashi Imai and Rastam Mohd Isa, secretary general of the Malaysian Foreign Ministry, in Kuala Lumpur, it said.

Japan and Malaysia signed the bilateral FTA last December following nearly two years of negotiations. Malaysia is the third FTA partner for Japan following Singapore and Mexico.

In 2005, Japan’s exports to Malaysia totaled $12.6 billion and imports from the country stood at $14.8 billion, according to the Japanese government.