Aust, Malaysia to sign free trade deal

23-May-2012 Intellasia | Sky News | 7:01 AM Print This Post

Trade minister Craig Emerson heads to Malaysia on Monday to sign a new free trade agreement.

He also will travel to France, the Republic of Korea, China, Japan, Germany and Russia to talk trade.

The Malaysia agreement will guarantee tariff-free entry for 97.6 per cent of recent goods, rising to 99 per cent by 2017.

Malaysia is Australia’s 10th largest trading partner, with two-way trade worth $16 billion in 2011.

(Getty)

‘The signing of this FTA will open a new chapter in Australia’s relationship with Malaysia,’ Dr Emerson said in a statement on Monday.

Australian exporters of automotive parts and a wide range of other manufactured products, as well as exporters of iron, steel and milk, would benefit from improved market access.

The agreement built on an already solid commercial partnership by embracing services and investment.

Malaysia has committed to allowing Australian service providers majority ownership in a range of service industries, including telecommunications, insurance, education, tourism, accountancy and mining-related services.

http://www.skynews.com.au/businessnews/article.aspx?id=752543&vId=3268013

 


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