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EU, Malaysia relaunch negotiations for planned bilateral FTA

21 Jan '25
1 min read
EU, Malaysia relaunch negotiations for planned bilateral FTA
Pic: Adobe Stock

Insights

  • The European Union (EU) and Malaysia are relaunching negotiations for a planned bilateral free trade agreement, European Commission President Ursula von der Leyen announced yesterday.
  • “Today's announcement reaffirms Europe's commitment to strengthening ties with both Malaysia and ASEAN as a whole,” she said.
  • Malaysia is the EU's third-largest trading partner in the ASEAN bloc.
The European Union (EU) and Malaysia are relaunching negotiations for a planned bilateral free trade agreement (FTA), Eurupean Commission President Ursula von der Leyen announced yesterday as Malaysian Prime Minister Anwar bin Ibrahim is on a visit to Europe.

“Europe and Malaysia share a commitment to a rules-based international order, economic openness, sustainable development, and regional stability. Europe remains dedicated to advancing a free and open Indo-Pacific, where both sides share significant interests and responsibilities,” von der Leyen said.

“As our third-largest trading partner in ASEAN and the current chair, Malaysia plays a central role in shaping the bloc's direction. Today's announcement reaffirms Europe's commitment to strengthening ties with both Malaysia and ASEAN as a whole,” she said.

“We will aim to build our partnership on robust commitments on labour rights and climate and environmental protection….We are showing that sustainability and free trade can and must go hand in hand,” she added.

Trade between both sides is already worth €45 billion annually.

Fibre2Fashion News Desk (DS)

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