Malaysia Australia Free Trade Agreement

Malaysia Australia Free Trade Agreement

– Under the AANZFTA, Malaysia will be duty-free in 2013 for 89.2% of tariff lines, 90.5% in 2016 and 95.5% in 2020. 12. AANZFTA has enabled Australian goods exporters and service providers, as well as investors in a wide range of sectors in Malaysia, to significantly improve their access. However, barriers to trade and investment remain between Australia and Malaysia, including in sectors such as automotive, iron and steel, chemicals, plastics and a number of agricultural products, as well as in a number of service sectors (financial services, telecommunications, professional services and education). 45. Other more trade-promoting WTO provisions include the application of prejudicial decisions on the classification and assessment of tariffs, as well as business-friendly rules of origin. The same rules allow exporters to choose added value or change the tariff classification rule. There are no certificates of origin requirements for Australian exporters and administrative requirements reflect modern business practices. 129.

Australia also has significant strategic and security interests in Malaysia and elsewhere in the region. Australia and Malaysia are members of important regional security organizations such as the East Asia Summit (EAS), the ASEAN Regional Forum (ARF) and the Asia-Europe Meeting (ASEM), as well as ASEAN dialogue partners, and Australia is working closely with Malaysia in these for a. Australia and Malaysia are also members of the WTO, AANZFTA and the Asia-Pacific Economic Cooperation (APEC) Forum. Reconciliation of economic relations with Malaysia through a bilateral free trade agreement will support Australia`s broader strategic engagement with Malaysia and the region as a whole. 33. Negotiating a comprehensive multilateral agreement on the WTO is the most important opportunity for all WTO members to remove global barriers to agriculture, industrial products and services. Continued trade liberalization through the conclusion of the Doha Round would also stimulate the growth of the global economy. While the Doha Round has made progress since its launch in 2001 in the resolution of its negotiating agenda, the negotiations are deadlocked and uncertainty and the prospect of increased protectionism is clouding the global economy.