Australia and Malaysia sign free trade agreement

28.05.2012 19:30 "Agro Perspectiva" (Kyiv) — Australia and Malaysia today signed a comprehensive free trade agreement (FTA) that will open avenues for Australian goods and services into the Malaysian market.

The agreement will further integrate the Australian economy with the fast-growing Asian region, benefiting Australian exporters, importers and consumers.

It was signed in Kuala Lumpur by Australia’s Trade and Competiveness Minister Craig Emerson and his Malaysian counterpart Mustapa Mohamed.

Today’s signing follows an undertaking in March last year by Prime Minister Julia Gillard and Najib Tun Razak, the Malaysian Prime Minister, to complete negotiations within a year.

Under the accord, Australia will be as well-positioned in the Malaysian market as Malaysia’s closest trading partners in ASEAN, and in some cases better.

For Malaysia, the accord allows the same tariff-free entry to Australia currently enjoyed by Singapore.

The FTA will guarantee tariff-free entry for 97.6 per cent of current goods exports from Australia once it enters into force. This will rise to 99 per cent by 2017.

Malaysian exporters, meanwhile, will enjoy duty-free entry to the Australian market.

Australia has also agreed to provide a three-year package of up to 21 short and long-term scholarships, fellowships, awards and exchanges to support Malaysia’s economic reform efforts.

This complements existing exchanges between Australia and Malaysia on public sector and economic governance, including through the Endeavour Scholarships.

Malaysia is Australia’s 10th largest trading partner, with two-way trade worth almost $16 billion in the 2010–11 financial year.

Australian exporters of automotive parts, iron, steel and dairy products will benefit from improved market access under the agreement.

The FTA will also help diversify the trading relationship by opening Malaysia’s services sector to Australian companies.

Malaysia has committed to allowing majority Australian ownership of service providers in a range of industries, including telecommunications, insurance, education, tourism, research and development, accountancy and mining-related services.

The signing of this FTA is an early outcome of the white paper on Australia in the Asian Century.

The agreement goes well beyond the lowering or elimination of import tariffs.

It is a vote of confidence in the Malaysian people, in their economic reform process and in the importance of the Asian region to Australia.

The FTA will also complement benefits already flowing from the ASEAN-Australia-New Zealand FTA.

http://trademinister.gov.au/

19.02.2025
	10:43	“Bold investments” needed to address challenging nutritional burden in Africa, FAO says
	07:13	Green Climate Fund greenlights two major FAO-led projects to strengthen climate resilience in Kenya and Serbia
12.02.2025
	10:01	China Corn Imports Fall on Weaker Domestic Demand
	09:06	China’s Imported Oilseed Meal Supplies Shift Slightly to Mid-Protein Meals
08.02.2025
	18:20	Cereal stocks set to decline in 2024/25 due to anticipated reductions in wheat and maize inventories
	18:00	FAO Food Price index declined in January 2025, mostly due to lower sugar, vegetable oil and meat prices
06.02.2025
	16:28	Ukraine considers SCZone site for food hub in Egypt – ministry
	16:16	Since the beginning of 2025, 549 agricultural enterprises have received UAH 2.3 billion under the Affordable Loans at 5-7-9 programme published
03.02.2025
	23:55	Ukraine's Ministry of Agrarian policy allocates sugar export quotas to EU
31.01.2025
	17:20	Global orange production for 2024/25 is forecast down 662,000 tons to 45.2 MT
	17:15	Argentina Lemon/Lime Exports Continue to Decline
24.01.2025
	16:38	Ukraine’s agricultural sector earned $24.5 bln in 2024, setting second historical record
23.01.2025
	15:46	Eurobarometer survey shows strong support for the Common Agricultural Policy (CAP)
22.01.2025
	20:54	Since the beginning of 2025, 117 agricultural enterprises have received UAH 318.7 million under the Affordable Loans at 5-7-9 programme
	20:43	Ukrainian agricultural land needs to be cleared and returned to circulation as soon as possible
21.01.2025
	21:45	A groundbreaking new study, “Governance and resilience as entry points for transforming food systems in the countdown to 2030”. Key Findings
	21:37	Nitrogen use efficiency must be improved to reduce harm to human and environmental health
11.01.2025
	11:16	Russia Grain Export Quota to Curb Wheat Exports in 2025
	09:12	Iraq Emerges as a Soybean Importer
08.01.2025
	22:13	FAO Food Price Index dips during the month of December
	18:49	FAO calls for urgent action to address widening famine in Sudan
22.12.2024
	05:26	FAO transfers 185 generators, 6,474 grain hoses to Ukrainian farmers in 2024
	03:53	The EU agri-food trade surplus increased by 15% in September 2024, reaching EUR 6 billion
19.12.2024
	09:05	World coffee production for 2024/25 is forecast 6.9 million bags higher
18.12.2024
	23:11	China’s Expanding Coffee Consumption
17.12.2024
	22:37	Bangladesh Soybean Import Recovery Expected to Continue
14.12.2024
	21:03	World apple production for 2024/25 is forecast to fall nearly 350,000 tons to 84.0 million
13.12.2024
	09:11	U.S. Fresh Pear Exports Fall on Historically Low Harvest
10.12.2024
	21:03	Indonesia Grain Imports to Subside after 2023/24 Record
	08:14	Higher vegetable oil quotations drive up FAO Food Price Index, but lower cereal and sugar prices temper the rise
	07:45	Cereal trade revised downwards amid weaker demand
02.12.2024
	23:17	Prime Minister: Some 50 partner countries have joined the humanitarian demining coalition
	22:56	Norway pledges additional $4.5 mln to Ukraine's Grain from Ukraine initiative
01.12.2024
	03:30	EU agri-food trade slowed down in August 2024
26.11.2024
	00:06	Global sugar production, compared to last year, is estimated up 2.8 million tons to 186.6 million
24.11.2024
	04:43	During the Operation of Our Grain From Ukraine Program, We Have Managed to Save 20 Million People from Hunger – Zelenskyy
	04:15	Ukraine Is Ready to Share Technologies, Military Experiences and Processing Methods with African Countries – the President
22.11.2024
	10:15	South Africa Sugar Production and Exports Estimated Down
19.11.2024
	23:04	Global Olive Oil Production Forecast to Rebound in 2024/25
	22:47	Vitalii Koval discusses Ukraine's European integration with European colleagues
	16:06	EBRD, European Union and United States help Kyiv prepare for winter
18.11.2024
	09:21	Agriculture Development Strategy 2030 – a roadmap to the EU
	09:19	Ukrainian farmers have sown 96% of projected winter crop area
01.11.2024
	20:31	Ukraine has officially joined the International Fund for Agricultural Development
	20:29	Ukrainian farmers harvested 63.7 million tonnes of grains and oilseeds
25.10.2024
	22:50	Agriculture hit hard: October port strikes rack up 30-40 million dollars in losses
	21:04	Ministry of Agrarian Policy expects exports to rise in dollar terms
	10:57	Ukrainian corn seed flows to Europe in further farm trade shift
24.10.2024
	23:02	Tree Nut Import Markets Highly Concentrated
23.10.2024
	11:18	Prime Minister UK warns Russian threat to global stability is accelerating as Putin ramps up attacks on Black Sea