Malaysia is optimistic about concluding negotiations on a free trade agreement (FTA) with the European Union (EU) in the near future, with discussions set to resume this November.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the renewed talks are expected to unlock new opportunities in digital trade, green technology transfer and sustainable value chains, further strengthening economic ties between both sides.
“Malaysia continues to attract foreign direct investment from the EU, particularly in manufacturing, green technology and the digital economy,” he said.
The EU remains one of Malaysia’s key trading partners, ranking as the country’s fourth-largest trading partner in 2023 with bilateral trade reaching US$45.33 billion. It was also Malaysia’s fourth-largest export market and third-largest import source.
Amir Hamzah also underscored Malaysia’s commitment to sustainability, noting that renewable energy will make up 31% of the national energy mix by 2030, rising to 40% by 2035 and 70% by 2050.
Related