Compensation and suspension of benefits shall be temporary measures and shall only be applied by the complaining Party until the measure found to be inconsistent with this Agreement has been withdrawn or amended so as to bring it into conformity with this Agreement, or until the Parties to the dispute have resolved the dispute otherwise. Neither compensation nor suspension is preferred to full elimination of the non-conformity as determined in the report of the arbitration panel referred to in Article 15.9
(Arbitration Panel Report).
5.
At the request of a party to the dispute, the original arbitration panel shall rule on the conformity with the final report of any implementing measures adopted after the suspension of benefits and, in light of such ruling, whether the suspension of benefits should be terminated or modified. The ruling of the arbitration panel shall normally be given within 30 days from the date of receipt of that request and shall be promptly complied with.
ARTICLE
15.13
Other Provisions
1.
Whenever possible, the arbitration panel referred to in Articles 15.11
(Implementation of the Final Report)
and 15.12 (Compensation and Suspension of Benefits)
shall comprise of the same arbitrators who issued the final report. If this is not possible, the replacement arbitrator shall
be appointed pursuant to Article 15.7
(Composition and Establishment of Arbitration Panel).
2.
Any time period mentioned in this Chapter may be modified by mutual agreement of the Parties to the dispute.
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3.
When an arbitration panel considers that it cannot comply with a time
frame imposed on it under this Chapter, it shall inform the Parties to the dispute in writing of the reasons for the delay and provide an estimate of the additional time required. Any additional time required should not exceed 30 days.
4.
A written submission, request, notice or other document shall be considered received when it has been delivered to the addressee through diplomatic channels in the territory of the addressee. At the same time, a copy of these documents shall be provided in electronic format to the designated contact points. The contact points shall be notified to the Joint Committee.
ARTICLE
15.14
Language
1.
All proceedings pursuant to this Chapter shall be conducted in English.
2.
Any document submitted for use in any proceedings pursuant to this Chapter shall be in English.
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CHAPTER 16
FINAL PROVISIONS
ARTICLE 16.1
Annexes and Appendices
The Annexes to this Agreement, including their Appendices, constitute an integral part of this Agreement.
ARTICLE 16.2
Amendments
1.
Any Party may submit proposals for amendments to this Agreement to the Joint Committee for consideration and recommendation.
2.
Amendments to this Agreement shall be subject to ratification, acceptance or approval in accordance with the Parties? respective legal requirements.
3.
Unless otherwise agreed by the Parties, amendments shall enter into force on the first day of the third month following the deposit of the last instrument of ratification, acceptance or approval.
4.
Notwithstanding paragraphs 1 to 3, the Joint Committee may decide to amend the Annexes and Appendices to this Agreement.
5.
If a Party has accepted a decision subject to the fulfilment of its domestic legal requirements, the decision shall enter into force on the first day of the third month following
the date that the last Party notifies the Depositary that its internal requirements have been fulfilled, unless otherwise specified in the decision.
6.
The text of the amendments and the instruments of ratification, acceptance or approval shall be deposited with the Depositary.
7.
If its domestic legal requirements permit, a Party may apply any amendment provisionally, pending its entry into force for that Party. Provisional application of amendments shall be notified to the Depositary.
ARTICLE 16.3
Accession
1.
Any State becoming a Member of EFTA may accede to this Agreement, provided that the Joint Committee approves its accession, on terms and conditions to be agreed upon by the Parties. The instrument of accession shall be deposited with the Depositary.
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2.
In relation to an acceding State, this Agreement shall enter into force on the first day of the third month following the deposit of its instrument of accession, or the approval of the terms of accession by the existing Parties, whichever is later.
ARTICLE 16.4
Withdrawal and Expiration
1.
Each Party may withdraw from this Agreement by means of a written notification to the Depositary. The withdrawal shall take effect six months after the date on which the notification is received by the Depositary,
unless the Parties agree on a different period.
2.
If Malaysia withdraws, this Agreement shall expire when its withdrawal becomes effective.
3.
Any EFTA State which withdraws from the Convention establishing the European Free Trade Association shall, ipso facto
on the same day as the withdrawal takes effect, cease to be a Party to this Agreement.
ARTICLE 16.5
Entry into Force
1.
This Agreement is subject to ratification, acceptance or approval in accordance with the respective domestic legal requirements of the Parties. The instruments of ratification, acceptance or approval shall be deposited with the Depositary.
2.
If its respective domestic legal requirements permit, any Party may apply this Agreement provisionally, pending its entry into force for that Party. Provisional application of this Agreement under this paragraph shall be notified to the Depositary.
3.
This Agreement shall enter into force on the first day of the third month following the date on which at least one EFTA State and Malaysia have deposited their instrument of ratification, acceptance or approval with the Depositary.
4.
In relation to an EFTA State depositing its instrument of ratification, acceptance or approval after the date on which at least one EFTA State and Malaysia have deposited their instrument of ratification, acceptance or approval with the Depositary, this Agreement shall enter into force on the first day of the third month following the deposit of its instrument.
ARTICLE
16.6
Depositary
The Government of Norway shall act as Depositary.
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Conclusion
IN WITNESS WHEREOF the undersigned, being duly authorised thereto by their respective Governments, have signed this Agreement.
DONE at Tromsø, this 23rd day of June 2025, in one original in English, which shall be deposited with the Depositary, who shall transmit certified copies to all the Parties.
For Iceland
For Malaysia
For the Principality of Liechtenstein
For the Kingdom of Norway
For the Swiss Confederation
Attachments
ANNEX XVIII. REFERRED TO IN ARTICLE 8.4. INVESTMENT RESERVATIONS
APPENDIX 1. RESERVATIONS BY MALAYSIA
LIST A
EXPLANATORY NOTES / HEADNOTE
1. This List sets out, pursuant to Article 8.4 (Reservations), Malaysia?s existing measures that are not subject to Article 8.3 (National Treatment).
2. Each entry in this List sets out the following elements:
(a) Sector refers to the sector for which the entry is made;
(b) Subsector, where referenced, refers to the specific subsector for which the entry is made;
(c) Level of Government indicates the level of government (central, regional or local) maintaining the listed measures;
(d) Description sets out the non-conforming measure for which the entry is made; and
(e) Measures identifies the laws, regulations, or other measures, for which the entry is made.
A measure cited in the Measures element:
(i) means the measure as amended, continued, or renewed, and
(ii) includes any subordinate measure adopted or maintained under the authority of and consistent with the measure.
3. In accordance with Article 8.4 (Reservations) Article 8.3 (National Treatment) does not apply to the non-conforming measure identified in the Description element of that entry.
4. The Schedules of other Parties shall not be used to interpret Malaysia's commitments or obligations under Chapter 8 (Investment), or other Chapters of the Agreement.
A.1.
Sector: All
Subsector: -
Level of Government: Central and Regional
Description: Only Malaysian nationals or permanent residents can register a sole proprietorship or partnership in Malaysia. Foreigners can register a Limited Liability Partnership (LLP), but the compliance officer shall be a citizen or permanent resident of Malaysia that resides in Malaysia.
Foreigners are not allowed to establish or join cooperative societies in Malaysia.
Measures / Source: Registration of Businesses Act 1956 [Act 197]
Limited
Liability
Partnerships
Act
2012
[Act
743]
Co-operative Societies Act 1993 [Act 502]
Business Names Ordinance 1932 [Sarawak Cap. 64] (1958 Edition)
Business, Professions and Trade Licensing Ordinance 1955 [Sarawak Cap. 33] (1958 Edition)
Trades Licensing Ordinance (Sabah Cap. 144)
Companies Act 2016 [Act 777]
General Guidelines for Registration of Limited Liability Partnership
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A.2.
Sector:
All
Subsector:
-
Level of Government:
Central
Description:
At least one director of a private company incorporated in Malaysia shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia.
At least two directors of a public company incorporated in Malaysia shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia.
Measures / Source: