M’sia Exploring Cooperation In Trade & Investment With EFTA
Bernama, Malaysia
M’sia Exploring Cooperation In Trade & Investment With EFTA
13 November 2008
SHAH ALAM, Nov 13 (Bernama) — Malaysia is exploring a framework for cooperation in trade and investment with the European Free Trade Area (EFTA), International Trade and Industry Minister Tan Sri Muhyiddin Yassin said today.
The framework will provide an avenue to discuss and undertake programme aimed at promoting trade, investment and economic, he said.
It will also be aimed at technical cooperation in all areas for mutual benefit, he added in his speech at the opening ceremony of the Switzerland headquartered Gutor Electronic Asia Pacific headquarters and manufacturing facility here.
Malaysia has already signed bilateral free trade agreements (FTAs) with Japan and Pakistan.
At the Asean level, it has established FTAs with Japan, China, South Korea, India, Australia and New Zealand.
Such FTAs will create more opportunities for companies like Gutor as there is a wider market to explore, Muhyiddin said.
"By setting up your manufacturing plant here, you will be able to take advantage of the rules of origin and enjoy preferential market access to larger market base," he said, Thursday.
Muhyiddin said a total of RM837.6 million worth of investment in six projects with Swiss interest were received during the first nine months of 2008, of which two were new projects and four concerned expansion and diversification.
The bulk of the investments approved was in the electrical and electronics sector, he said.
From 1980 to 2007, a total of 103 projects with Swiss interest had been implemented with the investments totalling RM1.9 billion and providing employment for more than 11,000 Malaysians.
