Tengku Zafrul Aziz and Cecilie Terese Myrseth (centre) with Daoi Mar Kristofersson (second from left) at the signing. (Miti pic)

Malaysia has signed a wide-ranging economic partnership agreement with the four member states of the European Free Trade Association (EFTA): Norway, Iceland, Switzerland and Liechtenstein. The signing ceremony took place in Tromsø, Norway, reports Free Malaysia Today.

Photo from the signing shows Investment, trade and industry minister Tengku Zafrul Aziz and Norway’s trade and industry minister Cecilie Terese Myrseth exchange documents after the signing of the economic partnership agreement in Tromso, Norway. Iceland’s finance and economic affairs minister Daoi Mar Kristofersson was there as well.

Malaysia’s minister of investment, trade and industry, Tengku Zafrul Aziz, said the Malaysia-EFTA Economic Partnership Agreement (Meepa) marks a new chapter in Malaysia’s trade relations with European countries and reflects the country’s efforts to diversify its export markets amid rising geopolitical and economic uncertainties.

The agreement is Malaysia’s first free trade deal with several European countries and its 18th free trade agreement overall. Tengku Zafrul said Meepa also lays the groundwork for renewed negotiations on a broader Malaysia–EU free trade agreement.

The new partnership covers trade in goods and services, investment, intellectual property, government procurement, competition, sustainable development, and sanitary standards, among other areas. More than 90% of Malaysia’s exports to the EFTA countries will receive long-term duty-free access.

Malaysia’s total trade with EFTA reached RM14.4 billion in 2024, with Switzerland accounting for the largest share (RM12.2 billion), followed by Norway (RM2.1 billion). The main Malaysian exports include electrical and electronic products, scientific instruments, rubber-based goods and plastics.

In services, the agreement is expected to improve access for Malaysian professionals such as accountants, teachers, lawyers and healthcare workers to work across the EFTA countries.

The signing was accompanied by a memorandum of understanding on capacity-building cooperation and a joint statement on sustainable palm oil.