Signed Trade Agreement with Malaysia
Press release | Date: 30/06/2025 | Ministry of Trade, Industry and Fisheries
At the EFTA Ministerial Meeting in Tromsø, Norway and the other EFTA countries signed a new Economic Partnership Agreement with Malaysia.
– Malaysia is a rapidly growing market, and this agreement will strengthen Norwegian businesses in competition with businesses from other countries looking to enter this market,” says Minister of Trade and Industry Cecilie Myrseth (Labour Party).
The new agreement comes at a time when international trade is under pressure.
– In challenging times, rules-based trade is especially important, says Myrseth.
Currently, Norway’s trade with Malaysia is modest. However, the agreement paves the way for increased trade with Malaysia, a market that is seeing rapid growth. With the new agreement, 99 percent of all Norwegian exports to Malaysia will be duty-free.
– This is the fourth trade agreement signed by the EFTA countries in the past year under Norway’s chairmanship. We have also signed agreements with Thailand, Kosovo, and Ukraine. Not only have we secured favorable trade terms; we commit to responsible and sustainable trade that will benefit both business and the environment in the long term,” says Minister Cecilie Myrseth.
The agreement will eliminate tariffs on 96 percent of Norwegian exports to Malaysia within five years, and 99 percent within ten years.
Cooperation Between Universities
The goal of the Economic Partnership Agreement is to enhance cooperation and trade between our countries.
In addition to the trade agreement, two Memoranda of Understanding (MoUs) were signed in Tromsø. These are cooperation agreements between:
- The University of Stavanger and Universiti Teknologi PETRONAS (UTP) in Kuala Lumpur
- The University of South-Eastern Norway and Universiti Teknologi PETRONAS (UTP) in Kuala Lumpur
The MOUs encourage the universities to identifying areas where staff and students can collaborate to promote internationalization in higher education.
The cooperation can cover any field or subject agreed upon by the parties. It may include a range of activities such as joint academic research projects and lectures, co-development of curricula, and exchange of students, researchers, and staff.
– It is very encouraging that we are also facilitating cooperation between educational institutions. Collaboration across research and industry will create major opportunities for the business sector in the future, says Minister Myrseth.
Facts about the Trade Agreement Between Norway and Malaysia
- In 2023, total trade in goods between Norway and Malaysia amounted to approximately NOK 7.1 billion.
- NOK 2.4 billion was Norwegian exports, mainly seafood, petroleum products, chemicals, fertilizers, machinery, nickel, and instruments.
- NOK 4.7 billion was imports from Malaysia, primarily machinery, instruments, and products made of aluminum and rubber.
- Trade between Norway and Malaysia has had an average annual growth rate of 10% in imports and 5% in exports over the past five years.
- Malaysia is an important market for telecommunications services, and there are also significant opportunities in shipping and energy.
The trade agreement ensures binding commitments on trade in goods, financial services, telecommunications, investment, public procurement, competition, and intellectual property rights.
It also includes new provisions and commitments on climate, the environment, and labor rights.
The agreement will allow Norwegian companies to participate in Malaysia’s extensive public procurement market on equal footing with Malaysian companies, as — for the first time in a free trade agreement between EFTA countries and an Asian country — it includes market access commitments on public procurement.