(MENAFN- Qatar News Agency) Kuala Lumpur, February 10 (QNA) - Malaysia will sign three more Free Trade Agreements (FTAs) this year, said International Trade and Industry Second Minister Datuk Seri Ong Ka Chuan.
He said the three FTAs € with the European Union, Hong Kong and the Regional Comprehensive Economic Partnership (RCEP) € will further enhance Malaysia's trade and investment volume as well as revenue. "As an example, since Malaysia and Turkey signed an FTA on August 1 last year, the country's total trade has increased by 54% this year.
"I would like to stress that the FTA will facilitate two-way trade, and we will enjoy zero tax rates from the country concerned as no import duties will be imposed on nearly 90% of products," he told reporters after holding an open house at his residence in Gunung Rapat today.
Ong said the nation's economic growth will be more positive this year, adding more FTAs are planned with other countries to further strengthen Malaysia's economy and facilitate two-way trade. (QNA)
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