KUALA LUMPUR, Jan. 20 (Xinhua) -- Malaysia will resume negotiations for the Malaysia-European Union Free Trade Agreement (MEUFTA) to strengthen economic ties with the European Union (EU), the Malaysian Prime Minister's Office said on Monday.
The agreement is expected to unlock immense benefits across multiple sectors of Malaysia's economy while strengthening the global supply chain in critical sectors, it said in a statement in conjunction with Prime Minister Anwar Ibrahim's working visit to Belgium from Jan. 19-20.
"It is poised to bolster exports from sectors such as electrical and electronic products, palm oil and its derivatives, as well as optical and scientific equipment to the EU market, among others," it said.
"Furthermore, the MEUFTA will catalyze significant investments from the EU in cutting-edge sectors such as green energy and advanced manufacturing," it added.
It added that the government is committed to pursuing a balanced and comprehensive agreement that delivers tangible benefits to all stakeholders, while ensuring a "win-win situation" for both Malaysia and the EU. ■
