Malaysia-Chile Free Trade Agreement (Mcfta)

To date, Malaysia has signed 14 free trade agreements: among the areas of cooperation to which Malaysia and Chile have declared their readiness are research and development and innovation, science and technology, trade and investment, mining and mining, SMEs, intellectual property, tourism, education and human capital development, culture and promotion of tourism. In his remarks, Muhyiddin said that although the free trade agreement is limited to trade in goods and economic cooperation, the two countries are required to work by the first half of 2011 on a comprehensive agreement covering services and investment within two years of the entry into force of the agreement. A statement issued by the Ministry of International Trade and Industry said the agreement followed the conclusion of negotiations between Malaysia and Chile in May 2010 in Santiago, after several rounds of negotiations that began in June 2007. The free trade agreement will benefit Malaysian exporters, as after the entry into force of the agreement, Chile will completely eliminate tariffs on 6,960 tariff headings (90.2% of total tariff headings), while Malaysia votes in full on import duties on products of 9,311 customs headings (89.5%). Bernama has recovered remarkably this year, however, with trade amounting to 853.7 million.RM in the first nine months of this year, with exports accounting for 199.8 million.RM and imports for .RM 653.9 million.

This entry was posted in Non classé. Bookmark the permalink.