Thursday, June 20, 2024

The European Union and Malaysia Sign Partnership and Cooperation Agreement

The European Union and Malaysia signed a Partnership and Cooperation Agreement (EU-MY PCA) in December 2022. This agreement covers areas such as trade and investment, energy, finance, and politics. It is expected to help restart discussions on the stalled EU-Malaysia Free Trade Agreement (MEUFTA). The PCA contains over 60 articles and aims to strengthen EU-Malaysia bilateral cooperation, reduce technical barriers to trade, and promote the use of international standards. It also hopes to increase the security of international trade, encourage a greater flow of investments, promote trade in services, and protect intellectual property rights. The agreement also seeks to combat organized crime, financial crime, and corruption. It is expected to open up access to a market of 2.3 billion people, covering over 15 countries.

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