A 5-member Thai research team from Thailand Development Research Institute (TDRI), the Ministry of Industry and the Office of Industrial Economics visited TEEAM on 1st June 2011.
The TDRI officials were Dr Somkiat Tangkitvanich (Vice President) and Mr Sunthorn Tunmuntong (Researcher). They were accompanied by Analysts from the Office of Industrial Economics (OIE), Mr Chalee Khansiri and Mrs Budthree Tiamtiabrat; and Mr Somchai Harnhirun (Inspector General, Ministry of Industry).
TEEAM officials, Engr Fu Wing Hoong (President), Ir Chew Shee Fuee (Vice President), Mr Suresh Kumar Gorasia (Past President) and Ir Rocky Wong Hon Thang (Honorary Fellow cum Technical Adviser) received the visiting guests.
The discussion focused on the impact of existing bilateral and regional Free Trade Agreements (FTAs) on the electrical and electronics (E&E) manufacturing sector as well as domestic and foreign investments in Malaysia.
FTAs are aimed at providing the means to achieve quicker and higher levels of liberalisation that would create effective market access for goods and services between the participants of the FTAs. FTAs are comprehensive and they include investment, trade facilitation, intellectual property rights as well as economic cooperation. Malaysia has concluded, signed or implemented four bilateral FTAs with the following countries:
- Japan – December 2005
- Pakistan – November 2007
- New Zealand – October 2009
- Chile – November 2010
At the regional level, Malaysia and its ASEAN partners have established the ASEAN Free Trade Area. ASEAN has also concluded FTAs with the following countries:
- China – November 2004
- Korea – August 2006
- Japan – April 2008
- Australia & New Zealand – February 2009
- India – August 2009
The discussion was fruitful and the Thai guests thanked TEEAM for the time and opportunity to share issues of mutual concern.
During meeting – Issues on FTAs were discussed.