Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
KUALA LUMPUR: The inflow of investments from Switzerland into Malaysia has increased following the signing of the EFTA-Malaysia Economic Partnership Agreement (MEEPA), according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
MEEPA is a free trade agreement (FTA) signed on June 23 between the European Free Trade Association (EFTA) member states-Iceland, Liechtenstein, Norway, and Switzerland- and Malaysia.
Speaking to reporters after the fourth ASEAN Economic Ministers (AEM) Troika open-ended meeting with Switzerland here today, Tengku Zafrul said the move reflects the confidence of the EFTA member states and the private sector that the FTA will facilitate business.
He added that Malaysia had a bilateral meeting yesterday with Switzerland, which represented the EFTA countries.
Earlier in the meeting, Investment, Trade and Industry Deputy Minister Liew Chin Tong said ASEAN regards Switzerland as a constructive and reliable partner in advancing shared economic interests.
Currently, he said ASEAN and Switzerland’s two-way trade reached US$28.33 billion in 2024, underscoring strong regional demand for Swiss products and technologies in high-value sectors.
"While recent investment flows reflect portfolio realignments, Switzerland remains an important source of high-quality, innovation-driven investment, offering clear opportunities in advanced manufacturing, life sciences, green technologies and financial services,” he said during the meeting.
Meanwhile, Swiss state secretary Helene Budliger Artieda said Switzerland was proud of the progress achieved with ASEAN, including the FTAs concluded with Singapore, the Philippines and Indonesia, as well as bilateral investment treaties with Cambodia and Laos.
She also highlighted recent milestones such as the conclusion of the FTA with Malaysia, the signing of a trade agreement with Thailand at the World Economic Forum (WEF) in Davos, and a digital economy agreement with Singapore.
"Since becoming a sectoral dialogue partner in 2016, Switzerland has built a strong and growing relationship with ASEAN. Nearly a decade of cooperation reflects our shared values and ambitions,” she said.
Artieda said Switzerland looks forward to concluding an FTA with Vietnam soon.
She added that the country also aims to further operationalise the ASEAN-EFTA joint declaration on cooperation, adopted last year as a cornerstone for future engagement. - Bernama
