HOME CONTACT
GET FREE E-MAIL ALERTS  
 
Tuesday, 06 March 2012, 21:10 MST
 
 
HEADLINES TODAY
 
HEADLINES THIS WEEK
 
COMPLETE NEWS LIST
 
MALAYSIAN LAW PORTAL
 
NEWS
LEGISLATION
JUDGMENTS
REGULATORY
EVENTS
BOOKS & ARTICLES
STUDENTS
INDUSTRY UPDATES
NEWS
Malaysia, Australia to sign Trade Pact in May
KUALA LUMPUR, Jan 31 (Bernama) -- The Malaysia-Australia Free Trade Agreement (MAFTA) will be signed this May after the conclusion of the talks on the agreement, slated in March, said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.

He said the much-delayed agreement, which was mooted in 2005, would be concluded this year as per aspirations of Prime Minister Datuk Seri Najib Tun Razak and his Australian counterpart, Julia Gillard, when the latter paid an official visit to Canberra.

"The challenges and issues that were the stumbling blocks in the agreement's realisation are being resolved one by one," he told reporters after the 16th Malaysia-Australia Joint Trade Committee Meeting here Tuesday.

Australian Trade Minister, Craig Emerson, co-chaired the meeting.

Mustapa said in any negotiations, there would be gaps.

"The tasks of the negotiators are to bridge the gaps and I am pleased to inform that this session here has been successful in closing the gap between the two countries.

"A number of issues were on the table, including investor dispute settlement, wine, cars, export taxes and finance.

"The commitments from both sides are to bridge the gap and we think we have done it," he said.

Meanwhile, Emerson said the trade relationship with Malaysia was vital for Australia, as it was in line with Canberra's economic initiatives, which emphasised on being close to Asian countries.

"Malaysia is one of the potential countries which we see in the region.

"This one-day session has been positive in taking a step closer to the conclusion of the MAFTA talks, as the session is merely to solve problems.

"It is a good opportunity to understand each other's perspectives and share thoughts for better understanding prior to the proposed agreement," he said.

The MAFTA talks, which were earlier slated to be concluded in 2007, were delayed due to certain sensitive issues.

Over the last few years, Malaysia concluded bilateral free trade agreements (FTAs) with Japan, Pakistan, Chile, New Zealand and India and signed regional FTAs with China, Japan, South Korea, India and Australia/New Zealand.

Currently, 61 per cent of Malaysia's total trade was with FTA partners.
E-mail this Story
Print this Page
Share via Facebook
Malaysia, Australia to sign trade pact in May
Source : Bernama, The Star
Date of  Publication : Tuesday, 31 January 2012
Original Title : Malaysia, Australia To Sign Trade Pact In May
The Publishers of MLTIC acknowledge the permission granted by the relevant official/original source for the reproduction of the above/attached materials. You shall not reproduce the above/attached materials in whole or in part without the prior written consent of the Publishers and the original/official source. Neither the Publishers nor the official/original source will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/attached materials. The Publishers and the official/original source also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, the MLTIC web portal and contents herein are subject to the Terms of Use.
 
 
 
SUPPORTING ORGANIZATIONS
BOARD OF ADVISORS
Syed Naqiz Shahabuddin
Partner, Naqiz & Partners
Tan Hon Yik
Partner, Naqiz & Partners
Khairul Ismail
Partner, Naqiz & Partners
 
MORE NEWS
SSM to introduce a more Competitive Companies Act
Ignorance is No Excuse, Judge tells Car Dealer
Consumer Claims Tribunal solves 366 Cases involving Foreign Tourists
MyCC prioritises Advocacy Activities to ensure Success
ROS given Nod to Appeal against Setting Aside of SNAP-s De-registration
Court dismisses Judicial Review Application of Bursa's Enforcement Actions
Islamic Hire Purchase Bill Draft in Final Stage, says Ismail Sabri
SC looking at whether to publicise Rulings
Malaysia, Australia to sign Trade Pact in May
MyCC warns Financial Institutions against breaking BNM Rules
 
© Muttath Knowledge Management Services Sdn Bhd
About
Terms of Use
Disclaimer
Privacy Policy
RSS Feeds
Sitemap
Resources