EFTA and Malaysia sign Joint Declaration on Cooperation

Published 20-07-2010
The four EFTA States (Iceland, Liechtenstein, Norway and Switzerland) and Malaysia signed a Joint Declaration on Cooperation (JDC) on 20 July 2010 in Geneva. Through the JDC, both sides commit to further enhancing their bilateral economic relations. A Joint Committee will meet periodically to discuss relevant issues.

Economic relations between the EFTA States and Malaysia
The value of total EFTA-Malaysia merchandise trade (imports plus exports) amounted to USD 1.254 billion in 2009. The EFTA States exported goods to Malaysia worth USD 671 million, while imports reached 583 million. Imports from Malaysia consisted mainly of machinery, furniture and bedding, and fats and oils. EFTA’s key exports were machinery, pharmaceutical products, and clocks and watches. Bilateral trade has grown at an average annual rate of 11% since 2003.

EFTA as a trade partner
EFTA has established one of the most extensive networks of preferential trade relations worldwide. In addition to the European Union as the EFTA States’ most important economic partner, EFTA’s network of Free Trade Agreements currently extends to 31 countries and territories. Free trade negotiations are currently underway with several partners. JDCs have been concluded with a further seven states.

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Seminar on the European Economic Area - EEA - Brussels 15 September 2020