KUALA LUMPUR: An upgraded Trade and Investment Framework Agreement (TIFA) version, to the level of a bilateral free trade agreement, will pave the way for higher economic engagement between the US and Malaysia, said Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan. With the US pullout from the grouping, Malaysia does not have any FTA arrangement with the world’s largest economy. The US is Malaysia’s third largest trading partner, while Malaysia is the US’s 18th largest worldwide – and the second largest in Asean. "The strong presence of US investments in Malaysia is a reflection of the good investment climate and ecosystem that Malaysia offers." The sentiments of American multinational corporations towards Malaysia and the Asean region remain positive, he added.

Source: New Strait Times November 16, 2017 14:37 UTC