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10th March, 2010
KUALA LUMPUR: Malaysia is ready to sign the joint declaration on economic cooperation (JDC) with the European Free Trade Association (EFTA),the Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed announced yesterday.
The ETA comprises Switzerland, Iceland, Norway and Liechtenstein.
“We are pleased to announce that all outstanding matters have been resolved and the JDC is ready for signing,” he said.
The JDC, he explained, establishes a platform for the exchange of views and implementation of cooperation programmes to raise the level of trade between the countries concerned.
“Thus, we hope all stakeholders will help us make this platform a success,” he said in his opening speech at the Norway Business Seminar here.
Mustapa’s speech was delivered by his Deputy, Datuk Mukhriz Tun Mahathir.
He also said Malaysia’s central location within Asean and the Asean Free Trade Area (AFTA), offers endless opportunities for investors.
“We believe there is only an upside to this relationship, as Malaysia’s advantage will grow, with the increasing pace of economic liberalisation in Asia,” he added.
He said the Asean-China Free Trade Area, which was fully implemented recently and with the Asean Free Trade Agreements (FTAs) with India, Australia and New Zealand having come into effect, it opens up market access to three billion consumers.
“Malaysia is a key Asean member and one of the strongest proponents of growing trade liberalisation between Asean and our top dialogue partners.
“Therefore, we urge Norwegian investors to take advantage of Malaysia in setting up their regional operations and headquarters’ here,” he stated.
Last year, Norwegian companies invested in 26 projects in Malaysia with a total value of US$186.9 million.
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