Malaysia-European Free Trade Area Economic Partnership Agreement (Meepa)

Kishnam said trade negotiations should benefit workers and society as a whole. In addition, increased internationalization through trade and participation in global value chains (CIS) enables Malaysian SMEs to achieve economies of scale, increase market share and increase productivity. In this regard, Malaysia has engaged in various free trade agreements (FTAs) to improve market access for Malaysian goods and services. Malaysian SMEs are therefore encouraged to take advantage of Zuleinen`s free trade agreements and develop a good understanding of free trade agreements and trade requirements in order to take advantage of the benefits of free trade agreements to penetrate global markets. To date, Malaysia has signed 14 free trade agreements: it is said that the government should be more transparent in providing details on these trade agreements. „We are concerned that the new generation of free trade agreements, aimed at further liberalization and deregulation of the economy, is a business trade agenda that has a negative impact on workers` rights and sustainable development. KUALA LUMPUR: A union representing thousands of workers, IndustriALL Global Union, expressed concern about the ongoing negotiations on trade and investment agreements in which the country is participating. As a small-market trade nation, it is essential for Malaysia to continue to establish an open trade and investment system to stimulate economic growth, create high-skilled jobs and promote technological development and innovation. These are sound indicators that highlight potential complementary areas such as research and development in the manufacturing sector, as well as cooperation in services, which would serve as a strategic basis for foreign direct investment and the transfer of knowledge and technology. With regard to EFTA-Malaysia`s trade statistics, 15 EFTA Trade Statistical Instrument working groups were created to cover the agreed areas of MEEPA: the bilateral trade value with EFTA states was $11.31 billion.RM in 2016, with Malaysian exports growing by 36% to a record level of 3.12 billion .RM. Exports to Switzerland contributed 88% of the total value. „Instead of pursuing a large number of free trade agreements, we call on the government to strengthen multilateralism as part of a democratic global trade policy for sustainable development.“ In this sense, trade unions should be consulted before each round of negotiations,“ he told reporters after presenting a memorandum on free trade agreements (FTAs) to a representative of the International Ministry of Trade and Industry today.

The free trade agreements that have been signed but have not yet been ratified are the Asean-Hong Kong Free Trade Agreement (AHKFTA), the Trans-Pacific Partnership Agreement (TPPA) and the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership. Malaysia – Partnership of the European Free Trade Association A total of 8 rounds of negotiations have taken place since the first round in March 2014. The eighth round was organised in May 2017 by Kuala Lumpur. The large MNCs and the major EFTA groups have chosen Malaysia to set up their regional and global activities. These include renowned MNCs such as Zurich Insurance, Credit Suisse Security, Ace Synergy Insurance, DNV GL, IKM Group, Wihelmsen Ships and Jordan Asia Pacific.

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