An EU-Malaysia Partnership and Cooperation Agreement (EU-MY PCA) was signed between EU and Malaysia on 14 December 2022.
According to EUROCHAM, the PCA is a significant milestone in the history of the EU-Malaysia bilateral relationship. EUROCHAM believes the EU-MY PCA paves a promising path towards recommencing discussions on the EU-Malaysia free trade agreement which will be a preferential trading agreement facilitating the free movement of goods, services and investments between Malaysia and the EU.
If restarted and eventually concluded, the Malaysia EU Free Trade Agreement will cover16 areas spanning over 13 working groups, including market access for goods, services, investments, intellectual property rights and sustainability development.
EUROCHAM encouraged the Malaysian government to officially restart the negotiation phase for the FTA as it will improve business opportunities for all Malaysian industries, increase technology and knowledge exchange as well as significantly increase EU foreign direct investment.