Does Australia Have a Free Trade Agreement with Malaysia

Australia and Malaysia have had a Free Trade Agreement (FTA) in place since 2013. The Australia-Malaysia Free Trade Agreement (MAFTA) is designed to promote trade and investment flows between the two countries by reducing and eliminating barriers to trade.

MAFTA is a comprehensive agreement that covers a wide range of goods and services, including agriculture, resources, manufacturing, education, and financial services. Under this agreement, both countries have agreed to reduce or eliminate most tariffs on goods traded between them. This means that Australian businesses can now access the Malaysian market more easily and vice versa.

The agreement also provides for the liberalisation of trade in services, which has been identified as a key driver of economic growth. This means that Australian businesses can now provide services in Malaysia, such as education, tourism, and professional services, more easily and on a more competitive basis.

One of the key benefits of MAFTA is that it provides certainty and stability for businesses operating in the two countries. The agreement contains provisions that protect investors and provide a framework for resolving disputes between businesses and governments. This makes it easier for Australian businesses to invest in Malaysia and vice versa.

In addition to promoting trade and investment flows, MAFTA also contains provisions that promote environmental and labour standards. This means that both countries are committed to upholding high standards in these areas, which is particularly important for businesses operating in industries such as manufacturing and resources.

Overall, the Australia-Malaysia Free Trade Agreement is a significant achievement for both countries and has already begun to deliver benefits for businesses and consumers. With ongoing efforts to deepen economic ties between the two countries, it is likely that the agreement will continue to be a key driver of economic growth and job creation in the years to come.