The Star Online-�Malaysia is expected to sign free trade agreements (FTAs) with Hong Kong and Iran by year-end, said International Trade and Industry Minister, Datuk Seri Ong Ka Chuan.

He said to-date Malaysia has signed 13 FTAs with its ASEAN and dialogue partners.

�We need to speed up the signing of the FTAs as the Regional Comprehensive Economic Partnership is also progressing.

�Not only that, the FTA between Malaysia and European Union (EU) is also advancing,� he told reporters after an Engagement Session at Universiti Putra Malaysia on Monday.

However, there was a concern on the palm oil sector as the EU has adopted a discriminatory policy towards palm oil, he said.

The EU is Malaysia�s biggest palm oil market and in 2016, palm oil export stood at RM10bil.

The FTA between Malaysia and 27 EU countries is expected to boost total trade by 20-30% from 10% currently.

The EU is Malaysia�s third largest trading partner with total trade in January this year increased 9.7% to RM12.9bil from the same month a year ago.

In 2016, trade with the EU edged up 0.4% to RM149.1bil. - Bernama

Read more at http://www.thestar.com.my/business/business-news/2017/07/31/malaysia-to-sign-ftas-with-hk-iran-by-year-end/#v9RPzkHsk32OCOtG.99

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