NEW DELHI: Malaysia is continuing discussions with the Gulf Cooperation Council (GCC) for a free trade agreement (FTA) while a bilateral pact with the United Arab Emirates (UAE) will be concluded by the end of this year.
Malaysia is looking to have an FTA with the six-member GCC as a bloc, as well as bilateral agreements in West Asia to boost commercial relations with a major economic region, Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
Saudi Arabia, the region's largest economy, is coordinating the GCC's free trade talks with Malaysia.
Malaysia, which at present has seven bilateral FTAs and nine multilateral FTAs, is discussing such agreements with a number of countries.
"We are going to complete the one with UAE by the end of this year," Tengku Zafrul told Bernama in New Delhi on Wednesday.
It will be Malaysia's first such pact with any Arab country and signifies rapid growth in commercial links with the Gulf region.
"There are talks with all GCC countries, including Saudi Arabia, for bilateral agreements,” Tengku Zafrul said. - Bernama
