Malaysia Eyes Bilateral FTA with Iran

A Malaysian minister said a trade delegation from the Southeast Asian country will visit Iran in 2017 to start formal talks on a free trade agreement (FTA) between the two countries.

“We will visit Iran towards the end of January next year and will try to negotiate for more Malaysian products to be brought into the country,” Malaysia’s Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said on Friday,

He added that a bilateral FTA would allow Malaysia to gain a first-mover advantage and provide a huge potential for Malaysian furniture and bedding products in the future.

Iran and Malaysia have shown keenness to expand their ties in different areas.

Iranian President Hassan Rouhani, who visited Malaysia during a tour of Southeast Asia in October, said at the time that Tehran and Kuala Lumpur are resolved to restore their bilateral relations to pre-sanctions levels and then promptly double it.

“We also plan to turn 2016 into the year of development in improvement and expansion of mutual ties in economic, political, scientific and cultural fields,” he added.

(Source: Tasnim, under Creative Commons licence)

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