Regional Trade Agreement between Malaysia-Japan

The Malaysia-Japan regional trade agreement is an historic agreement signed between the two countries in 2019. This agreement marks a significant milestone in the relationship between Malaysia and Japan, as well as in the global economy. With the trade volume between the two countries reaching USD 18.47 billion in 2018, this agreement will further enhance the already-strong economic ties between Malaysia and Japan.

Under this agreement, Malaysia will eliminate tariffs on almost all Japanese imports, while Japan will reduce tariffs on more than 94% of its Malaysian imports. This agreement is expected to increase Malaysia`s exports to Japan by USD 3 billion annually, while also providing lower import costs for Japanese companies.

One of the most significant benefits of this agreement is the creation of a more open and competitive market for both countries, which will lead to increased investment and growth opportunities. This agreement will also promote the development of new businesses and ideas, as well as the transfer of technology and knowledge between the two countries.

Another important aspect of this agreement is the focus on environmental sustainability and social responsibility. Both Malaysia and Japan are committed to reducing carbon emissions and promoting sustainable development, which is reflected in the provisions related to environmental protection and labor rights.

Overall, the Malaysia-Japan regional trade agreement is a win-win for both countries, as well as for the global economy. It will promote trade, investment, and growth, while also ensuring that these benefits are sustainable and equitable. This agreement marks a new chapter in the relationship between Malaysia and Japan, and the opportunities and benefits it creates are sure to be felt for years to come.

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