PETALING JAYA: The renewed Border Trade Agreement (BTA) between Malaysia and Indonesia is expected to facilitate and revitalise the economic activities and trade between both countries, said deputy investment, trade, and industry minister Liew Chin Tong.
“It will subsequently contribute to the increase in the socio-economy of the residents at the Malaysia-Indonesia border in the Borneo region, as well as strengthen and foster closer relations between the two nations,” he said.
He said this in responding to Senator Jaziri Alkaf Abdillah Suffian on the government’s efforts to improve the trade agreement or economic cooperation between Indonesia and Malaysia specifically in the Borneo region.
The BTA was streamlined and improved on June 8, 2023, in Putrajaya, after 53 years. This is the first time it has been updated since being implemented in 1970.
“The BTA has been reviewed and negotiated since 2009 to ensure it is relevant and appropriate to keep up with the times,” Liew said.