Renewed BTA hopes to boost Malaysia-Indonesia economic activities

Renewed BTA hopes to boost Malaysia-Indonesia economic activities

13 Dec 2023

The renewed Border Trade Agreement (BTA) signed between Malaysia and Indonesia this year is expected to facilitate and further boost economic and trade activities between both countries.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said the agreement is also expected to contribute to the improvement of the socio-economic status of the border areas in Malaysia and Indonesia within the Borneo region.

“To support economic activities in Borneo, Malaysia and Indonesia at the bilateral level have signed the BTA in 1970.

“The agreement has also been reviewed and negotiated since 2009 to ensure its continued relevance and suitability in the changing times.

“At the same time, the enhanced and improved BTA signed on June 8, this year, is expected to facilitate and further boost economic and trade activities between both countries, consequently contributing to the improvement of the socio-economic status of the border areas in both countries within the Borneo region,” he said during the question and answer session in Dewan Negara, today.

Liew said this in response to a question from Senator Jaziri Alkaf Abdillah Suffian on the government’s plan to increase trade agreements or economic cooperation, especially between Indonesia and Malaysia within the Borneo region.

Meanwhile, Liew said trade relations between Malaysia and Indonesia were established through the bilateral and regional framework, namely the Association of Southeast Asian Nations (Asean).

Following this, he added that both countries consistently explored opportunities and planned efforts to enhance trade and economic cooperation, whether on a bilateral or regional level.

Source: NST