MALAYSIA & EFTA MEMBERS SIGN JOINT DECLARATION ON ECONOMIC COOPERATION

KUALA LUMPUR, July 20 (Bernama) -- Malaysia and the governments of the
member states of the European Free Trade Association (EFTA) Tuesday signed the
Joint Declaration on Economic Cooperation (JDC) in Geneva, Switzerland.

The declaration provides an avenue for deeper economic collaboration and
cooperation between Malaysia and EFTA members, an initial step towards
establishing an FTA in future, a statement issued by the Ministry of
International Trade and Industry (MITI) said here Tuesday.

The areas of cooperation cover information exchange, promotion and
facilitation of trade and investment, technical assistance and capacity
building, said MITI.

Bilateral trade between Malaysia and EFTA amounted to RM5.6 billion (US$1.75
billion) last year, representing 0.6 per cent of Malaysia's global trade for the
year.

Switzerland is the major market and represents 84.5 per cent of Malaysia's
total trade with EFTA. Malaysia's total exports to EFTA amounted to RM2.4
billion (US$750,000) and imports, RM3.3 billion (US$1.03 billion).
-- BERNAMA


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