EU/Malaysia: resumption of negotiations for a trade agreement
Taking advantage of the Malaysian Prime Minister's official visit to Brussels on 19 and 20 January, the European Union and Malaysia announced the resumption of their trade to reach a trade agreement. Negotiations had already been launched in 2010 by both sides, before sifling two years later, due to differences regarding palm oil.
For the Malaysian Prime Minister, an agreement with the Twenty-Seven could favour Malaysian exports, in particular theElectrical and electronic products,Scientific equipmentandpalm oil, while stimulating EU investment in green energy and advanced manufacturing. For her part, the President of the European Commission said that, in addition to economic exchanges, this agreement would be based on strong commitments in labour law and environmental and climate protection.
Current trade between the EU and Malaysia amounts to EUR 45 billion per year. The next step towards this agreement is to organise a first round of negotiations in the coming months. At the end of the debate, Brussels should publish its proposals for texts.
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