Home > Archives
Thursday January 19, 2006
KUALA LUMPUR: Malaysia and Chile set up a joint study group on Thursday as a first step toward a free trade agreement.
The announcement was made after talks between visiting Chilean Foreign Minister Ignacio Walker and Malaysia's Minister of International Trade and Industry, Rafidah Aziz.
Rafidah told reporters that the study group would submit its recommendation to both governments by the end of the year.
Walker said the first round of the joint study would take place on Feb. 28 in Kuala Lumpur.
A ministry statement said the study group will identify the strategic and economic benefits the two countries will derive from a free trade area, review existing trade and economic relations, and identify policies for boosting trade in goods, services and investment.
Chile is Malaysia's fourth largest trading partner among the South American countries.
In 2004, bilateral trade increased by 77.7 per cent to US$232.4 million (euro196.95 million).
From January to November 2005, total trade amounted to US$197.8 million (euro167.6 million) with Malaysian exports recorded at US$58.2 million (euro49.32 million) and imports at US$139.7 million (euro118.3 million).
Malaysia's main exports to Chile in 2004 were electrical and electronic, rubber and wood products in addition to machinery, appliance and parts and chemicals and chemical products.
Chile's exports to Malaysia are mainly metals, ores, metal scrap, paper and pulp products, fresh, chilled or frozen seafood, and chemicals and chemical products. - AP
Latest from AP-Wire
Neighbours heard cries of children being beaten
RM1mil reward offer for information on Dr M's alleged misdeeds
Body of child found buried in kitchen
‘Wild’ party ends for 51 at popular mall
Money down the drain
Man killed after car smashes into toll booth barrier
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)