1. Where a license is required for the supply of financial services, and if the applicable requirements are fulfilled, the competent authorities of a Party shall reach an administrative decision on an application, within six months after the submission of the application is considered complete under that Party’s domestic laws and regulations.
2. Where it is not practicable for such a decision to be made within six months, the competent authority shall notify the applicant without undue delay the status of application, based on the applicant’s request and shall endeavour to make the decision within a reasonable period of time thereafter.
3. If the competent authorities of a Party require additional information from the applicant in order to process its application, they shall notify the applicant without undue delay, in line with its laws and regulation.
Article 12. Dispute Settlement
Panels established pursuant to Chapter 16 (Dispute Settlement) for disputes related to financial services suppliers and other financial matters shall have the necessary expertise relevant to the specific financial service under dispute.
Chapter 9. DIGITAL TRADE
Article 9.1. Definitions
For purposes of this Chapter:
(a) electronic authentication means the process or act of verifying the identity of a party to an electronic communication or transaction and ensuring the integrity of an electronic communication;
(b) electronic signature means data in electronic form that is in, affixed to, or logically associated with, a digital or electronic document, and that may be used to identify or verify the signatory in relation to the digital or electronic document and indicate the signatory’s approval of the information contained in the digital or electronic document or message;
(c) electronic transmission or transmitted electronically means a transmission made using any electromagnetic means, including by photonic means;
(d) government data means data (i) held by the central government, and (ii) public disclosure of which is not restricted under domestic law and which a Party makes digitally available for public access and use;
(e) metadata means structural or descriptive information about data such as content, format, source, rights, accuracy, provenance, frequency, periodicity, granularity, publisher or responsible party, contact information, method of collection and context;
(f) personal data means any information, including data, about an identified or identifiable natural person;
(g) trade administration documents means forms issued or controlled by a Party that must be completed by or for an importer or exporter in connection with the import or export of goods; and
(h) unsolicited commercial electronic message means an electronic message which is sent for commercial or marketing purposes to an electronic address, without the consent of the recipient or despite the explicit rejection of the recipient, through an Internet access service supplier or, to the extent provided for under the laws and regulations of each Party, other telecommunications service.
Article 9.2. Objectives
1. The Parties recognise the economic growth and opportunity that digital trade provides, the importance of avoiding barriers to its use and development, the importance of frameworks that promote trust and confidence in digital trade, and the applicability of the WTO Agreement to measures affecting digital trade.
2. The Parties seek to foster an environment conducive to the further advancement of digital trade, including electronic commerce and the digital transformation of the global economy, by strengthening their bilateral relations on these matters.
Article 9.3. Scope
1. This Chapter shall apply to measures adopted or maintained by a Party that affect trade by electronic means.
2. This Chapter shall not apply to:
(a) government procurement; or
(b) information held or processed by or on behalf of a Party, or measures related to such information, including measures related to its collection.
3. For greater certainty, the Parties affirm that measures affecting the supply of a service delivered or performed electronically are subject to the obligations contained in the relevant provisions of Chapter 8 (Trade in Services) and its Annexes and Chapter 10 (Investment Facilitation), including any exceptions or limitations set out in this Agreement that are applicAble to those obligations.
Article 9.4. Customs Duties
1. No Party shall impose customs duties on digital or electronic transmissions, including content transmitted electronically, between a person of one Party and a person of another Party.
2. The practice referred to paragraph 1 is in accordance with the WTO Ministerial Decision of 17 June 2022 in relation to the Work Programme on Electronic Commerce (WT/MIN(22)/32).
3. Each party may adjust its practice referred to in paragraph 1 with respect to any further outcomes in the WTO Ministerial Decisions on customs duties on electronic transmissions within the framework of the Work Programme on Electronic Commerce.
4. The Parties shall review this Article in light of any further WTO Ministerial Decisions in relation to the Work Programme on Electronic Commerce.
5. For greater certainty, this Article shall not preclude a Party from imposing internal taxes, fees or other charges on content transmitted digitally or electronically, provided that such taxes, fees or charges are imposed in a manner consistent with this Agreement.
Article 9.5. Domestic Electronic Transactions Framework
1. Each Party shall endeavour to maintain a legal framework governing electronic transactions consistent with the principles of the UNCITRAL Model Law on Electronic Commerce (1996) or the United Nations Convention on the Use of Electronic Communications in International Contracts, done at New York on 23 November 2005.
2. Each Party shall endeavour to:
(a) avoid any unnecessary regulatory burden on electronic transactions; and
(b) facilitate input by interested persons in the development of its legal framework for electronic transactions, including in relation to trade administration documents.
Article 9.6. Electronic Signatures and Electronic Authentication
1. Except in circumstances otherwise provided for under its law, a Party shall not deny the legal validity of a signature solely on the basis that the signature is in digital or electronic form.
2. Neither Party shall adopt or maintain measures regarding authentication that would:
(a) prohibit parties to an electronic transaction from mutually determining the appropriate authentication methods for that transaction; or
(b) prevent parties to an electronic transaction from having the opportunity to establish before judicial or administrative authorities that their transaction complies with any legal requirements with respect to authentication.
3. Notwithstanding paragraph 2, a Party may require that, for a particular category of transactions, the method of authentication meets certain performance standards or is certified by an authority accredited in accordance with its law.
4. The Parties shall encourage the use of interoperable means of authentication.
Article 9.7. Paperless Trading
Each Party shall endeavour to:
(a) make trade administration documents available to the public in digital or electronic form; and
(b) accept trade administration documents submitted electronically as the legal equivalent of the paper version of those documents.
Article 9.8. Online Consumer Protection
1. The Parties recognise the importance of adopting and maintaining transparent and effective measures to protect consumers from misleading, deceptive, and fraudulent commercial practices when they engage in digital trade.
2. Each Party shall endeavour to adopt or maintain consumer protection laws to proscribe misleading, deceptive, and fraudulent commercial activities that cause harm or potential harm to consumers engaged in digital trade. (1)
Article 9.9. Personal Data Protection
1. The Parties recognise the economic and social benefits of protecting the personal data of persons who conduct or engage in electronic transactions and the contribution that this makes to enhancing consumer confidence in digital trade.
2. To this end, each Party shall endeavour to adopt or maintain a legal framework that provides for the protection of the personal data of the users of digital trade. (2)
In the development of any legal framework for the protection of personal data, each Party should endeavour to take into account principles and guidelines of relevant international organisations.
Article 9.10. Principles on Access to and Use of the Internet for Digital Trade
To support the development and growth of digital trade, each Party recognises that consumers in its territory should be able to –
(a) access and use services and applications of their choice, unless prohibited by the Party’s law; and
(b) connect their choice of devices to the internet, provided that such devices do not harm the network and are not otherwise prohibited by the Party’s law.
Article 9.11. Unsolicited Commercial Electronic Messages
1. Each Party shall endeavour to adopt or maintain measures regarding unsolicited commercial electronic messages that –
(a) require a supplier of unsolicited commercial electronic messages to facilitate the ability of a recipient to prevent ongoing reception of those messages;
(b) require the consent, as specified in the laws and regulations of each Party, of recipients to receive commercial electronic messages; or
(c) otherwise provide for the minimisation of unsolicited commercial electronic messages.
2. Each Party shall endeavour to provide recourse against a supplier of unsolicited commercial electronic messages that does not comply with a measure adopted or maintained in accordance with paragraph 1.
3. The Parties shall endeavour to cooperate in appropriate cases of mutual concern regarding the regulation of unsolicited commercial electronic messages.
Article 9.12. Cross-Border Flow of Information
1. The Parties recognise that each Party may have its own regulatory requirements concerning the transfer of information by electronic means.
2. A Party shall not prevent cross-border transfer of information by electronic means where such activity is for the conduct of the business of a covered person.
3. Nothing in this Article shall prevent a Party from adopting or maintaining:
(a) any measure inconsistent with paragraph 2 that it considers necessary to achieve a legitimate public policy objective, provided that the measure is not applied in a manner which would constitute a means of arbitrary or unjustifiable discrimination or a disguised restriction on trade; or
(b) any measure that it considers necessary for the protection of its essential security interests. Such measures shall not be disputed by the other Party.
Article 9.13. Open Government Data
1. The Parties recognise that facilitating public access to and use of government information and data contributes to stimulating economic and social benefit, competitiveness, productivity improvements and innovation. To the extent that a Party chooses to make available government information and data to the public, it shall endeavour to ensure –
(a) that the information is appropriately anonymised, contains descriptive metadata and is in a machine readable and open format that allows it to be searched, retrieved, used, reused and redistributed freely by the public; and
(b) to the extent practicable, that the information is made available in a spatially enabled format with reliable, easy to use and freely available Application Programming Interfaces (“APIs”) and is regularly updated.
2. The Parties shall endeavour to cooperate to identify ways in which each Party can expand access to and use of government data, with a view to enhancing and generating business and research opportunities.
3. For greater certainty, this Article is without prejudice to Party’s laws and regulations including but not limited to intellectual property and personal data protection.
Article 9.14. Electronic Invoicing
1. The Parties recognise the importance of electronic invoicing to increase the efficiency, accuracy and reliability of commercial transactions. Each Party also recognises the benefits of ensuring that the systems used for electronic invoicing within its territory are interoperable with the systems used in the other Party’s territory.
2. Each Party shall endeavour to ensure that the implementation of measures related to electronic invoicing in its territory supports cross-border interoperability between the Parties’ electronic invoicing frameworks. To this end, each Party shall endeavour to base its measures relating to electronic invoicing on international frameworks.
3. The Parties recognise the economic importance of promoting the global adoption of electronic invoicing systems, including interoperable international frameworks. To this end, the Parties shall endeavour to –
(a) promote, encourage, support or facilitate the adoption of electronic invoicing by enterprises;
(b) promote the existence of policies, infrastructure and processes that support electronic invoicing;
(c) generate awareness of, and build capacity for, electronic invoicing; and
(d) share best practices and promote the adoption of interoperable international electronic invoicing systems.
Article 9.15. Electronic Payments
1. Recognising the rapid growth of electronic payments, the Parties shall endeavour to support the development of efficient, safe and secure cross-border electronic payments by:
(a) fostering the adoption and use of internationally accepted standards for electronic payments;
(b) promoting interoperability and the inter-connection of electronic payment infrastructures; and
(c) encouraging innovation and collaboration in electronic payments services.
2. To this end and in accordance with their respective laws and regulations, each Party shall endeavour –
(a) to make publicly available, its laws and regulations of general applicability relating to electronic payments, including in relation to regulatory approval, licencing requirements, procedures and technical standards;
(b) to finalise decisions on regulatory or licencing approvals relating to electronic payments in a timely manner;
(c) not to arbitrarily or unjustifiably discriminate between financial institutions and other payment service providers as applicable in relation to access to services and infrastructure necessary for the operation of electronic payment systems;
(d) to take into account, for relevant electronic payment systems, internationally accepted payment standards to enable greater interoperability between payment systems;
(e) to facilitate the use of open platforms and architectures such as tools and protocols provided for through APIs and encourage financial institutions and other payment service providers as applicable to safely and securely make APIs for their products and services available to third parties, where possible, to facilitate greater interoperability, innovation and competition in electronic payments; and
(f) to facilitate innovation and collaboration, and recognise the importance of enabling the introduction of new financial and electronic payment products and services in a timely manner, such as through adopting regulatory and industry sandboxes.
Article 9.16. Cooperation
1. Recognising the importance of digital trade to their respective economies, the Parties shall endeavour to maintain a dialogue on regulatory matters relating to digital trade with a view to sharing information and experiences, as appropriate, including on related laws, regulations, and their implementation, and best practices with respect to digital trade, including but not limited to:
(a) online consumer protection;
(b) personal data protection;
(c) unsolicited commercial electronic messages;
(d) electronic signatures and electronic authentication;
(e) intellectual property concerns with respect to digital trade;
(f) challenges for small and medium-sized enterprises in digital trade;
(g) digital government;
(h) transformative technologies including artificial intelligence and blockchain;
(i) digital identities; and
(j) other areas of mutual interest between the Parties.
2. The Parties have a shared vision to promote secure digital trade and recognise that threats to cybersecurity undermine confidence in digital trade. Accordingly, the Parties recognise the importance of:
(a) building the capabilities of their governmental agencies responsible for computer security incident response; and
(b) using existing collaboration mechanisms to cooperate on matters related to cyber security
Chapter 10. INVESTMENT FACILITATION
Article 10.1. UAE-Malaysia Promotion and Protection of Investments
The Parties note the existence of and reaffirm the rights and obligations under the Agreement Between the Government of the United Arab Emirates and the Government of Malaysia for the Promotion and Protection of Investments, signed at Kuala Lumpur, on 11 October 1991 (UAE-Malaysia Bilateral Investment Agreement) and any subsequent amendments thereto.
Article 10.2. Promotion and Facilitation of Investments
1. The Parties affirm their desire to promote an attractive investment climate and expand trade in products and services. Consistent with Article 2 (Promotion and Protection of Investments) of the UAE-Malaysia Bilateral Investment Agreement, the Parties shall take appropriate measures to encourage and facilitate the exchange of goods and services and to secure favorable conditions for long-term economic development and diversification of trade between the two countries.
2. The Parties shall endeavour to publish or otherwise make publicly available its laws, regulations and international agreements that may affect the investments of investors of the other Party. Each Party shall endeavour to simplify procedures for investment applications. When a Party has admitted an investment on its territory, it shall endeavour to provide, in accordance with its laws and regulations, necessary authorisations in connection with such investment.
Article 10.3. Technical Council
The Parties shall establish a United Arab Emirates-Malaysia Technical Council on Investment (the Council), which shall be composed of representatives of both Parties. The United Arab Emirates will be chaired by Ministry of Finance and Malaysia will be chaired by Ministry of Investment, Trade and Industry. The Council may establish working groups as the Parties deem necessary.
Article 10.4. Objectives of the Council
The objectives of the Council are as follows:
(a) to promote and enhance investment facilitation and economic cooperationbetween the Parties;
(b) to monitor trade and investment relations, to identify opportunities for expandinginvestment and to identify issues relevant to investment that may be appropriatefor negotiation in an appropriate forum;
(c) to hold consultations on specific investment matters of interest to the Parties;
(d) to work toward the enhancement of investment flows;
(e) to identify and work toward the removal of impediments to investment flows; and
(f) to seek the views of the private sector, where appropriate, on matters related to the work of the Council.
Article 10.5. Role of the Council
The Council shall meet at such times and venues as agreed by the Parties, but the Parties shall endeavour to meet no less than once per year. A Party may refer a specific trade or investment matter to the Council by delivering a written request to the other Party that includes a description of the matter concerned. The Council shall take up the matter promptly after the request is delivered unless the requesting Party agrees to postpone discussion of the matter. Each Party shall endeavour to provide for an opportunity for the Council to discuss a matter before taking actions that could adversely affect the trade or investment interests of the other Party.
Article 10.6. Non-Application of Dispute Settlement
No Party shall have recourse to dispute settlement under Chapter 16 (Dispute Settlement) for any matter arising under this Chapter.
Chapter 11. GOVERNMENT PROCUREMENT
Article 11.1. Objectives
The Parties recognise the importance of developing cooperation between the Parties and the promotion of transparency of laws, regulations and procedures in the field of government procurement.
The Parties recognise the role of government procurement in furthering the economic integration of Parties to promote growth and employment.
Article 11.2. Scope
This Chapter shall apply to the laws, regulations and procedures of a Party regarding government procurement implemented by its central government entities, as defined or notified by that Party for the purposes of this Chapter.
Article 11.3. Transparency
1.Each Party shall:
(a) make publicly available its laws and regulations; and
(b) endeavour to make publicly available its procedures, regarding government procurement, which may include information on where tender opportunities are published.
2. To the extent possible and as appropriate, each Party endeavours to make available and update the information referred to in paragraph 1 through electronic means.
3. Each Party may specify in Annex 11A (Paper or Electronic Means Utilised by Parties for the Publication of Transparency Information) the paper or electronic means utilised by that Party to publish the information referred to in paragraph 1.
4. Each Party may make the information referred to in paragraph 1 available in the English language.
Article 11.4. Cooperation
The Parties endeavour to cooperate on matters relating to government procurement with a view to achieving a better understanding of each Party's respective government procurement systems. Such cooperation may include:
(a) exchanging information, to the extent possible, on Parties' laws, regulations and procedures and any modifications thereof;