Commission President Ursula von der Leyen and Prime Minister of Malaysia Anwar bin Ibrahim have announced the relaunch of negotiations for an ambitious, modern and balanced EU-Malaysia free trade agreement (FTA). The EU is Malaysia’s 4th largest trade partner, with trade in goods worth €45 billion in 2023, and trade in services worth €11bn in 2022. Deeper trade ties with Malaysia – a major economy in South-East Asia – would boost EU competitiveness and economic security through new business opportunities and stronger supply chains, unlocking new export possibilities and improving access to sources of raw materials.
A statement by President von der Leyen is available online.
The agreement will aim to build the EU-Malaysia partnership on robust commitments on labour rights and climate and environmental protection, while furthering the EU’s strategic engagement with the rapidly growing Indo-Pacific region.
The EU and Malaysia are committed to advancing swiftly in the FTA talks and aim to hold a first substantive round of negotiations in the coming months. The EU text proposals will be published after the first negotiating round, in line with the EU’s transparency policy. A Sustainability Impact Assessment has also been carried out in support of the negotiations, analyzing the possible economic, environmental, human rights and social impacts of the agreement.
Following his meeting with Malaysian Minister for Investment, Trade and Industry Tengku Zafrul Aziz on Sunday (19 January), Trade and Economic Security Commissioner Maroš Šefčovič (pictured) said: “I warmly welcome the relaunch of our negotiations with Malaysia, marking the beginning of an important upgrade to our trade relationship with this vibrant economy in south-east Asia. These negotiations come at a crucial moment. In today’s shifting geopolitical landscape, it is essential to build new partnerships, foster collaboration, and explore fresh opportunities. Through these talks, we are doing just that. A modern and dynamic free trade agreement will bring mutual benefits, opening doors to new business opportunities and enhancing the resilience of our supply chains. We look forward to a productive first round of negotiations in the coming months.”
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