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Malaysia’s Minister of Investment and Trade Tengku Zafrul revealed that two new free trade agreements (FTAs) are currently being negotiated: the Malaysia-European Free Trade Association Economic Partnership Agreement (MEEPA) and the ASEAN-Canada Free Trade Agreement (ACaFTA).
MEEPA involves economic partnerships with European Free Trade Association (EFTA) countries, while ACaFTA is a negotiation between Canada and ASEAN countries.
There are also two pending FTA negotiations, including Malaysia’s negotiations with EU countries, which have been postponed since 2012, and the FTA negotiations with South Korea. Malaysia is open to the South Korean FTA, while keeping an eye on costs and benefits in negotiations with the EU.
In addition, negotiations with Qatar on a new investment guarantee agreement, which began in 2022. To date, Malaysia has implemented 16 FTAs and 62 IGAs, and Malaysia is open to any FTA and IGA negotiation opportunities with trading partner countries, but negotiations need to take into account the costs of the country as a whole, as well as the long-term interests of the country.
(Source: theedgemalaysia Image source: freepik)
