„We are concerned that the new generation of free trade agreements, aimed at further liberalization and deregulation of the economy, is a business trade agenda that has a negative impact on workers` rights and sustainable development. Kishnam said trade negotiations should benefit workers and society as a whole. Fifteen working groups have been set up to cover the agreed areas of MEEPA: „It is in this spirit that trade unions should be consulted before each round of negotiations,“ he told reporters after presenting a memorandum with other trade unions on free trade agreements (FTAs) to a representative of the International Ministry of Trade and Industry today. It says that the government needs to be more transparent in providing details on these trade agreements. These are sound indicators that highlight potential complementary areas such as research and development in the manufacturing sector, as well as cooperation in services, which would serve as a strategic basis for foreign direct investment and the transfer of knowledge and technology. The bilateral trade value with EFTA countries was .RM 11.31 billion in 2016, with Malaysian exports growing by 36% to a record .RM 3.12 billion. Exports to Switzerland contributed 88% of the total value. For eFTA-Malaysia trade statistics s. EFTA Trade Statistics Tool KUALA LUMPUR: A union representing thousands of workers, IndustriALL Global Union, expressed concern about the country`s ongoing trade and investment agreements. In addition, increased internationalization through trade and participation in global value chains (CIS) enables Malaysian SMEs to achieve economies of scale, increase market share and increase productivity. In this regard, Malaysia has engaged in various free trade agreements (FTAs) to improve market access for Malaysian goods and services. Malaysian SMEs are therefore encouraged to take advantage of Zuleinen`s free trade agreements and develop a good understanding of free trade agreements and trade requirements in order to take advantage of the benefits of free trade agreements to penetrate global markets. To date, Malaysia has signed 14 free trade agreements: „Instead of pursuing a multitude of free trade agreements, we call on the government to strengthen multilateralism as part of a global democratic trade policy for sustainable development.
As a small-market trade nation, it is essential for Malaysia to continue to establish an open trade and investment system to stimulate economic growth, create high-skilled jobs and promote technological development and innovation. „We are dismayed that most of the free trade agreements put in place by the government do not contain provisions on applicable basic labour standards recognized by the International Organization.“ EFTA states and Malaysia met in Kuala Lumpur, Malaysia, for their ninth round of negotiations, from 25 to 28 February 2020. Source: The leading Ministry of International Trade and Industry (MITI) MNCs and major EFTA groups have chosen Malaysia to set up their regional and global activities. These include renowned MNCs such as Zurich Insurance, Credit Suisse Security, Ace Synergy Insurance, DNV GL, IKM Group, Wihelmsen Ships and Jordan Asia Pacific. Gopal Kishnam N, general secretary of the National Union of Transport Equipment and Allied Industries Workers, one of the group`s unions, said the government had not yet given details of the negotiations, not even elected politicians. The free trade agreements currently being negotiated include the Comprehensive Regional Economic Partnership Agreement (RCEP), the Preferential Trade Agreement between Malaysia and Iran (Mipta) and the Malaysia-European Free Trade Area (Meepa) Economic Partnership Agreement. A total of eight rounds of negotiations have taken place since the first round in March 2014. The eighth round was