KL-Canberra free trade pact talks on track
KL-Canberra free trade pact talks on track
By Tony Emmanuel
April 3 2006
CANBERRA: Negotiations are ongoing for the Malaysia-Australia Free Trade Agreement (FTA), with focus on tourism, education and professional services.
Having concluded one round of negotiations here two weeks ago, officials are optimistic the year-end deadline would be met despite issues related to government procurement still remaining in limbo.
"The FTA talks have been successful, on track so far ... we’re looking towards a positive outcome," Foreign Minister Alexander Downer said.
The next round of discussions are scheduled to be held at Putrajaya in June. And with separate visits scheduled by Foreign Minister Datuk Seri Syed Hamid Albar and International Trade and Industry Minister Datuk Seri Radifah Aziz by August, officials are optimistic.
The FTA negotiations between both countries commenced last July. The FTA would provide an opportunity towards comprehensive and liberal benefits for the business communities of both countries.
At present, Malaysia is Australia’s ninth-largest trade partner with annual bilateral trade amounting to US$7.5 billion (RM27.7 billion), but Australian investments in Malaysia amount to A$500 million (RM1.3 billion).
Officials of Australia’s Department of Foreign Affairs and Trade said the recent five-day Malaysia-Australia FTA discussions saw various issues being ironed out between officials from both countries. These include negotiations on goods, tariffs and technical barriers to trade.
