Australia And Malaysia On Verge Of Sealing Free Trade Agreement
Negotiations for a Free Trade Agreement (FTA) between Australia and Malaysia will
resume next month, according to officials from both countries.
FTA discussions between the two countries have broken down several times since
they began back in 2005, with a series of complex issues preventing an expected
conclusion from taking place last year. However, Australian officials have this week confirmed that now the final round
of negotiations with the Association of Southeast Asian Nations (ASEAN) has
been completed, attention can be turned back towards the FTA with Malaysia. According to Malaysia's International Trade and Industry Minister, Tan Sri
Muhyiddin Yassin, both parties will meet one final time next month to complete
the final stages of the agreement. In addition to this, Australia's Foreign Minister Stephen Smith and Trade Minister,
Simon Crean, are also holding talks with officials in the Philippines this week
in a bid to strike a similar trade and investment deal. "Australia will also be looking to work closely with the Philippines in
helping shape the region's response to the global financial crisis, including
through APEC and the East Asia Summit process," Mr Crean explained. .
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