During the talks, the United States and Malaysia agreed to work together to address outstanding issues, including establishing working groups on goods, intellectual property, financial services, labor, and the environment. Additionally, U.S. officials met with U.S. counterparts in Penang and Kuala Lumpur, Malaysia.

The meeting was chaired by Assistant U.S. Trade Representative Barbara Weisel and Department of International Trade and Industry Secretary General J. Jayasiri. Additionally, the U.S. delegation included officials from the USTR, the State Department, and the Department of Commerce. U.S. officials also met with Bank Negara Malaysia.

The United States and Malaysia recently met under the Trade and Investment Framework Agreement (TIFA) to discuss ways to further strengthen their trade relationship and promote free, fair and balanced trade. The United States is holding talks with major trading partners across Asia, reflecting the Trump administration’s prioritization of deepening trade ties with countries in the region.

In 2016, the United States had a goods trade deficit of nearly $25 billion with Malaysia. U.S. product exports totaled $11.8 billion, and product imports from Malaysia totaled $36.6 billion. In 2015, U.S. services exports to Malaysia were $2.9 billion, and U.S. service imports were $1.8 billion. (KD)

Fibre2Fashion News Desk – India