KUALA LUMPUR: A recent workshop between Malaysian and the European Union (EU) representatives marked the commencement of discussions on the scoping process for the Malaysia-EU free trade agreements (FTA).
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said a concerted effort involving all ministries is also underway, ensuring that every concern raised finds resolution, drawing from the experiences of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
"If the FTA with the EU does not bring the anticipated benefits to our companies, it might be challenging for us to reach an agreement," he told a press conference here today.
In the realm of upcoming FTAs, Tengku Zafrul said there is the UAE Comprehensive Economic Partnership Agreement, which is expected to be signed in February next year.
He said the ministry is also in discussions on the Indo-Pacific Economic Framework, having agreed on the second, third, and fourth pillars, with only one pillar remaining namely the trade part.
"Malaysia-EFTA Economic Partnership Agreement (MEEPA) is still under discussion.
"There are plans to enhance some of the FTAs, especially in the areas of green and digital," he added.