[EU Session] ASEAN-BAC Malaysia Consultation
Meeting with the Joint Business Councils (JBCs) and
Foreign Business Councils in Malaysia
Investment Opportunities and Challenges between
Malaysia and EU
ASEAN Business Advisory Council (ASEAN-BAC) Malaysia held its first Consultation Meeting with the European Union (EU) Joint Business Councils (JBCs) and EU Foreign Business Councils in Malaysia on 30 August 2021, with discussions focusing on investment opportunities and challenges between Malaysia and the EU. The meeting was chaired by the ASEAN-BAC Malaysia Chairman Tan Sri Dato’ Dr Munir Majid.
Tan Sri Munir emphasised that despite its political uncertainties during the COVID-19 pandemic, Malaysia remains an attractive foreign direct investment destination. He also highlighted that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) needs to be ratified as soon as possible to ensure that Malaysia’s trade relationship with the EU is concretised
ASEAN-BAC Malaysia Council Member Tan Sri Yong Poh Kon, for his part, said that CPTPP ratification could enable Malaysia to reach an agreement with the EU sooner since certain provisions laid out in the CPTPP—such as those involving labour—would be similar to those required in an FTA with the EU, while fellow Council Member Mr Raja Singham stressed that communication through proper channels is key to ensuring that expectations are aligned.
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