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| Malaysia, GCC Move Towards FTA |
by Mary Swire, Tax-News.com, Hong Kong
Thursday, January 20, 2011
It has been disclosed that the framework for a free trade agreement (FTA) between
Malaysia and the Gulf Cooperation Council (GCC) has been completed.
While more studies needed to be undertaken, it was confirmed by Malaysia’s
Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, that
it had been decided to proceed to concluding the bilateral FTA.
It has previously been said that an FTA could boost two-way trade and investment
in a number of sectors. Malaysia is looking at opportunities in areas such as
Islamic banking and finance, ICT, renewable energy and tourism, while the GCC
countries could develop businesses in the oil and gas, plastic products and
food industries, while also setting up regional headquarters in Malaysia.
.
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