From 4 to 8 November 2024, the EFTA States – Iceland, Liechtenstein, Norway and Switzerland – and Malaysia met in Geneva for negotiations towards an economic partnership agreement (MEEPA).
Ove Christian Owe, Specialist Director at the Norwegian Ministry of Trade, Industry and Fisheries, acted as the EFTA spokesperson, while the Malaysian delegation was led by Sumathi Balakrishnan, Senior Director at the Ministry of Investment, Trade and Industry of Malaysia.
Experts had in-depth discussions on a range of issues and made good progress, with the aim of resolving outstanding matters related to trade in goods, trade in services, rules of origin, investment, intellectual property rights, cooperation, trade and sustainable development, government procurement, and legal and horizontal issues. Throughout the week, Heads of Delegation met to assess progress, address open issues and discuss the way forward. Overall, significant progress was made, bringing negotiations closer to a conclusion.
Economic relations between EFTA and Malaysia
EFTA–Malaysia trade has increased by EUR 500 million since 2018 and reached EUR 2.15 billion in 2023, with imports from Malaysia valued at EUR 1.19 billion and EFTA exports at EUR 964 million. Key EFTA exports in 2023 included pharmaceuticals, machinery, and clocks and watches, while imports from Malaysia were dominated by electrical machinery, medical instruments and aluminium.
Read more about merchandise trade between EFTA and Malaysia here.