Tax-News.com: EFTA, Malaysia Hold Sixth Round Of Trade Talks
by Ulrika Lomas, Tax-News.com, Brussels
22 March 2016
Delegations from the European Free Trade Association (EFTA) States and Malaysia met for a sixth round of negotiations on an Economic Partnership Agreement from March 14 to 17 in Kuala Lumpur.
Expert working groups convened to discuss draft texts in the following areas: trade in goods (including market access); rules of origin; trade facilitation; technical barriers to trade; sanitary and phytosanitary measures; trade remedies; trade in services; investment; competition; legal and horizontal issues; intellectual property rights; and trade and sustainable development. Discussions on cooperation and government procurement were deferred to the next round.
The two sides held their first round of trade talks in April 2014. The next round is scheduled to take place in early summer 2016.
Merchandise trade between the EFTA States and Malaysia amounted to USD3.3bn in 2015, with exports from EFTA worth USD2.2bn, and imports from Malaysia worth USD1.1bn, the association said. Trade in services and investment are also substantial between the two sides, with the stock of foreign direct investment originating from the EFTA States in Malaysia amounting to over USD5bn in 2014, it said.
The EFTA states are Iceland, Liechtenstein, Norway, and Switzerland.