Malaysia finalizes free trade agreement with EFTA member states

Switzerland and the other members of the European Free Trade Association (EFTA) have finalized a free trade agreement with Malaysia, which is expected to be formally signed in June 2025. The Malaysia-European Free Trade Association Economic Partnership Agreement (MEEPA) aims to enhance trade relations and includes provisions on goods and services, investment, and environmental protection. Malaysian Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz, emphasized that the agreement provides permanent preferential market access for Malaysian exporters, addressing uncertainties surrounding previous temporary arrangements. The agreement is viewed as a significant step for Malaysia amid global economic uncertainties and aims to bolster trade, particularly in high-value goods and services. EFTA's commitment to liberalized trade is expected to benefit all member countries, enhancing economic cooperation and stability. This new accord follows recent agreements EFTA has made with Ukraine and Thailand, indicating a broader strategy to expand its global trade network.