European Union trade ministers on Friday approved the launch of free trade negotiations with Malaysia, in a move which officials hope could stimulate billions of dollars of business flows.
Southeast Asia is emerging from the global economic downturn much faster than the old continent – a scenario that holds a vast potential for the EU to push further its exports.
Australian companies and investors have been advised to get ready to grab business opportunities in Malaysia as the free trade agreement between the two countries is expected to be signed later this year.
India is taking proactive measures to conclude bilateral trade agreements with the European Union, Japan and Malaysia, as the future of the Doha round of multilateral trade talks look uncertain because of the protectionist stance of the developed countries.
Malaysia said Monday it was on the verge of finalising a free trade agreement with India and that the deal was expected to be signed at the end of October.
The European Union (EU) hopes to start Free Trade Agreement (FTA) talks with Malaysia on the sidelines of the Asia-Europe Meeting (ASEM) in early October.
The assimilation of the noble values of the 1Malaysia concept in Malaysians will enable appreciation of the spirit of cooperation and oneness among the Asean societies to realise the Asean Community by 2015, Prime Minister Datuk Seri Najib Tun Razak said Saturday.
The Malaysian Cabinet had given the go-ahead to join the Trans-Pacific Partnership (TPP) and it is now up to the member countries of the regional grouping to decide on Malaysia's entry.
The government will expand investment and trade opportunities by signing new free trade agreements, particularly with nations in West Asia and other emerging markets.