The Ministry stressed the MEUPCA is expected to provide an overarching strategic political framework for strengthening Malaysia-EU bilateral cooperation.
Since the MEUPCA negotiations commenced in October 2010, 11 rounds of talks had been held in Putrajaya and Brussels on a rotational basis. Malaysia and the EU successfully concluded the negotiations during the final round on December 7-8, 2015 in Brussels.
With 60 clauses, the MEUPCA covers a wide range of mutual benefits on economy and non-economy for the two sides. The agreement helps to strengthen collaboration in many areas, including politics, commerce and investment, energy, transport, agriculture, finance and maritime issues though dialogues and information exchanges.
The agreement is expected to boost other bilateral deals, particularly the Malaysia-EU Tree Trade Agreement (MEUFTA), which will allow greater access for Malaysian products and services to the EU market.
Malaysia will also benefit from capacity building programmes, the sharing of best practices and knowledge transfer in the areas of science and technology, green technology, environment, education and health.
The official signing of the MEUPCA is expected to be held in the coming time.