Malaysia and Australia sign FTA
Malaysia and Australia have signed a Free Trade Agreement (FTA) which will come in to force on 1st July.
The FTA will give 100% duty free entry for Malaysian goods into Australia and 98% entry into Malaysia for Australian goods. The FTA will also allow Australian companies to own Malaysian telecommunications enterprises and up to a 70% stake in insurance and investment banking. Malaysia in turn will be free to invest in private hospitals and the healthcare sector in Australia.
The FTA was signed by Australian Trade Minister Craig Emerson and Malaysian Trade Minister Mustapa Mohamed.