Malaysia-EU FTA talks to be completed by first quarter of 2016

IPOH: Malaysia's discussions on the Free Trade Agreement with European Union (EU) countries to compete in the international market is expected to be completed by the first quarter of this year.
Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said they have to move fast as another Asian country, Vietnam, had concluded its talks and was expected to sign the agreement early this year.
It was reported earlier the Malaysia-EU FTA, which first entered into discussions in 2010, was stalled for some time.
The government had requested for a "break" for both sides to rethink what is wanted from the agreement.
Singapore had already negotiated with EU.
"We are still in discussions with EU and hope to come to an agreement to enhance and open up trade potentials with developed countries like Germany and Italy," he told reporters after presenting Chinese New Year goodies and ang pow to some 2,000 recipients here today.