Malaysia's Free Trade Agreements

COVID-19 affected Malaysia's trade with Free Trade Agreement (FTA) trading partners. In 2020, it stood at RM1.185 trillion, lower by 3.7% and accounted for 66.7% of Malaysia’s total trade. Exports to FTA partners was valued at RM667.46 billion, a decrease of 1.6% and represented 68% of Malaysia’s total exports. Major export products were E&E products, petroleum products as well as chemicals and chemical products which contributed 53.2% to Malaysia’s total exports to FTA markets.

Increases in exports were recorded to Hong Kong SAR, by 2.3% to RM68.12 billion due to higher exports of E&E products, Turkey (increased by 9.4% to RM7.62 billion, rubber products) and the ROK (increased by 1% to RM34.57 billion, E&E products).

Imports from FTA partners dipped by 6.3% to RM517.07 billion and the main imports were E&E products, petroleum products as well as chemicals and chemical products.

FTAs Signed but Pending Ratification and Entry into Force

1. Regional Comprehensive Economic Partnership (RCEP) - signed on 15 Nov 2020
2. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - signed on 8 March 2018 

FTAs Currently Negotiated

1. Malaysia-European Free Trade Area Economic Partnership Agreement (MEEPA)