Malaysia signs economic partnership deal with EFTA

The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.

At the signing ceremony (Photo: the Malaysian Ministry of Investment, Trade and Industry - Bernama.com)
At the signing ceremony (Photo: the Malaysian Ministry of Investment, Trade and Industry - Bernama.com)

Kuala Lumpur (VNA) - Malaysia and the European Free Trade Association (EFTA) member states have signed an economic partnership agreement, opening a new chapter for Malaysia’s trade, investment and economic relations with Switzerland, Norway, Iceland and Liechtenstein.

Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz said as a trading nation, it is important for Malaysia to maintain its neutral and non-aligned stance, particularly in the face of current geopolitical uncertainties that complicate the global trading landscape.

He said Malaysia’s unwavering neutrality and non alignment is also reflected in the signing of the Malaysia-EFTA Economic Partnership Agreement (MEEPA), which is its 18th free trade agreement (FTA) thus far and is part of the country’s enhanced attempt to diversify its markets amid global economic uncertainties.

The official said as Malaysia’s first FTA with several European countries, MEEPA is also expected to pave the way for expedited Malaysia-EU FTA negotiations.

The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.

The agreement also has a robust built-in agenda for cooperation and capacity building programmes to further strengthen the development of sectoral capabilities in areas such as engineering, science, technology and innovation; green mobility and transportation; digitalisation and automation; pharmaceuticals and medical devices; as well as human capital development through training, internships and expert exchange programmes./.

VNA

See more

World Bank Country Director for Indonesia and Timor-Leste, Carolyn Turk speaks at the launch of the Indonesia Economic Prospects in Jakarta on June 23. (Photo: ANTARA)

Indonesia’s economy remains resilient amid global strains

Speaking at the launch of the Indonesia Economic Prospects June 2025 edition on June 23 in Jakarta, Turk noted that Indonesia’s gross domestic product (GDP) expanded 4.9% in the first quarter of 2025 compared to the same period last year.

Malaysia bolsters energy collaboration

Malaysia bolsters energy collaboration

The talent programmes mark another milestone in the technical partnership between PETRONAS and the Energy Institute, which focuses on three pillars: promoting decarbonisation and operational excellence through innovative solutions, enabling informed decision-making with expert advice, and nurturing the next generation of energy professionals.

A Massive fire destroys oil storage facility in Malaysia. (Photo: VNA)

Massive fire destroys oil storage facility in Malaysia

The firefighters found an active blaze at the lorry depot located in the city of Pasir Gudang near the state capital of Johor Bahru, with flames spreading quickly due to strong winds and igniting a neighboring disused oil storage area.

Children participate in a game at the ASEAN Family Day 2025 (Photo: VNA)

ASEAN Family Day in New York spreads regional identity

Ambassadors, Consuls General, along with staff and their families, joined traditional sports and cultural activities of Southeast Asia and performances bearing regional identity, thus contributing to strengthening unity and the ASEAN community spirit in New York.

Malaysian police and servicemen in an excercise. (Photo: Bernama)

Malaysia: 500 security personnel to be deployed for ASEAN meetings

Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.

Coordinating Minister for Economic Affairs Airlangga Hartarto answers questions from journalists on the sidelines of his official duties accompanying President Prabowo Subianto in St. Petersburg, Russia, on June 20. (Photo: ANTARA)

Indonesia concludes FTA talks with Eurasian Economic Union

Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.

OSZAR »