Malaysia, EU Resume Negotiations For Landmark Free Trade Deal
“In a statement [January 20], the Prime Minister’s Office (PMO) said the renewed engagement marks a significant milestone in strengthening Malaysia’s economic ties with one of the world’s largest trading blocs and underscores the country’s commitment to fostering deeper economic ties with the European Union (EU), a major trade and investment partner for Malaysia.”
“Furthermore, the MEUFTA will catalyse significant investments from the EU in cutting-edge sectors such as green energy and advanced manufacturing, aligning with the industrial reform goals of the New Industrial Master Plan (NIMP) 2030,” it said.
“For the period of January to November 2024, trade with the EU grew by 5.2 per cent to RM200 billion [USD$45BN] compared to the same period in 2023. As of 2023, EU investments in Malaysia have generated over 153,000 jobs through 1,323 projects valued at RM227.9 billion [USD$51BN].”
Read the full item: BERNAMA