ID :
119616
Sat, 05/01/2010 - 08:57
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https://oananews.org//node/119616
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SOUTH EAST ASIA ECONOMIC MINISTERS ON ROADSHOW TO US
KUALA LUMPUR, April 30 (Bernama) -- Asean Economic Ministers are organisingd
a roadshow to the United States (US) from May 3-8 to raise the profile of the
region among political and business leaders there.
Minister of International Trade and Industry Mustapa Mohamed, in announcing
details of the roadshow here Friday, said the visit would cover Seattle and
Washington.
"Our agenda for the roadshow is to undertake a follow-up to Prime
Minister Najib Razak's visit to the US earlier this month.
"We will be meeting with corporate leaders in the US to further encourage
investments into Malaysia while engaging trade leaders on certain policies
involving both countries," he explained.
During his visit to the US recently, Najib met with about 10 of the biggest
companies such as Coca-Cola, Intel, General Motors, Philip Morris, IBM and
Motorola.
Mustapa indicated he would also meet industry leaders like Microsoft
and Boeing during the visit.
"We hope this visit will result in an increase in foreign investments in
Malaysia," he said.
According to Mustapa, Malaysia wants to attract more investments,
particularly in the high and green technology sectors.
Accompanying him on the US roadshow are his counterparts from Brunei,
Indonesia, Laos and Thailand, while other Asean member states would be
represented by senior trade officials.
The roadshow is the first of a series of high profile activities organised
by Asean to enhance understanding of regional efforts towards economic
integration and raise Asean's level of engagement with key trading partners.
Mustapa said the US was chosen as the inaugural destination of the roadshow
as it is one Asean's leading trade and investment partners.
In 2009, Asean-US trade amounted to US$146.5 billion or 9.6 per cent of the
regional groupings total dealings.
In terms of investment, American businesses invested US$3.0 billion or five
per cent of the total foreign direct investment (FDI) in the region last year.
Cumulatively, the US is Asean's fourth largest investor. Between 2003-2008,
US investments in the region accounted for eight per cent of total inflow.
Mustapa said the collaboration by the Asean Economic Ministers forms part of
the integration measures laid out under the Asean Economic Community (AEC)
blueprint, adopted in 2007 and expected to be implemented in 2015.
While in Washington, Mustapa said he will meet US Trade Representative,
Ambassador Ron Kirk, to discuss issues of mutual concern to both countries.
The key issues to be discussed includes, Malaysia's interest in
participating in the Trans-Pacific Partnership (TPP).
-- BERNAMA
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