ID :
120646
Fri, 05/07/2010 - 10:28
Auther :
Shortlink :
https://oananews.org//node/120646
The shortlink copeid
MALAYSIAN GOVT URGED TO START FTA TALKS WITH EU
KUALA LUMPUR, May 7 (Bernama) -- The Malaysian business community hopes the government can speed up the decision to start free trade agreement (FTA) negotiations with the European Union (EU), Malaysia-China Business Council Joint Secretary-General Dr Michael Yeoh said Thursday.
He said the business community in Malaysia would welcome any FTA
negotiations with the EU as it would send the right signal to the world that the
country was open for business.
"Any FTA deal concluded will prove that we are open to trade and investment,
and prepared to have some of the best practices adopted," he told reporters
after a media luncheon with 17 ambassadors from EU countries here Thursday.
Present was Vincent Piket, Ambassador and Head of Delegation of the EU to
Malaysia.
Yeoh said Malaysia had missed the opportunity for an FTA with the United
States (US) which could have been concluded.
"Last year, the business community, particularly the Federation of Malaysian
Manufacturers, wanted Malaysia to conclude quickly the Malaysia-US FTA.
"Unfortunately, it was not done and we could not move ahead anymore as the
new US administration gives more focus on Trans-Pacific Partnership," he said.
Yeoh said an FTA could also enable Malaysian institutions and organisations
to share and adopt some of the best practices in the EU, like sustainable
forestry management, urban transportation and environmental management.
"People in Malaysia can learn from the EU experiences as many in the
European countries had developed over the last four decades. They have
substantial progress in many areas," he added.
Meanwhile, Piket said EU trade officials would visit Malaysia next month
to further explore the possibility to start FTA negotiations with Malaysia.
"I expect the exploration will have a positive outcome," he said, adding
that the EU had started bilateral negotiations with Singapore and Vietnam.
The EU seeks bilateral negotiations with Thailand, Singapore and Vietnam
after failing to forge an FTA with Asean as a whole.
"We are not giving up on Asean. Asean is a priority. So, we are looking at
alternative ways of moving forward.
"We propose to a number of Asean countries to first start negotiating
bilateral FTAs that later on could be built into a regional framework and put
together under the Asean umbrella," Piket said.
He said the EU was keen to move ahead with Malaysia and ready to open FTA
negotiations as the country was its second largest trade partner in Asean.
"We are busy exploring and hoping that before too long we can go ahead
because it is supporting trade.
"In the current economic climate we cannot sit still, we have to do
something for the economy, companies and traders. We feel that constructing a
long-term stable trade arrangement between Malaysia and EU will benefit them,"
he said.
Piket said Malaysia's economy would have an additional boost of eight per
cent by 2020 if an FTA with the EU was in place. Malaysia was the Asean member
that stood to gain the most, he added.
Meanwhile, the Asian Strategy & Leadership Institute and the EU delegation
to Malaysia will jointly organise "EU Debate: Asean, The New EU?" here to mark
the 53th anniversary of the foundation of the EU and to commemorate the 30th
anniversary of the EC-Asean Cooperation Agreement on May 18.
-- BERNAMA
He said the business community in Malaysia would welcome any FTA
negotiations with the EU as it would send the right signal to the world that the
country was open for business.
"Any FTA deal concluded will prove that we are open to trade and investment,
and prepared to have some of the best practices adopted," he told reporters
after a media luncheon with 17 ambassadors from EU countries here Thursday.
Present was Vincent Piket, Ambassador and Head of Delegation of the EU to
Malaysia.
Yeoh said Malaysia had missed the opportunity for an FTA with the United
States (US) which could have been concluded.
"Last year, the business community, particularly the Federation of Malaysian
Manufacturers, wanted Malaysia to conclude quickly the Malaysia-US FTA.
"Unfortunately, it was not done and we could not move ahead anymore as the
new US administration gives more focus on Trans-Pacific Partnership," he said.
Yeoh said an FTA could also enable Malaysian institutions and organisations
to share and adopt some of the best practices in the EU, like sustainable
forestry management, urban transportation and environmental management.
"People in Malaysia can learn from the EU experiences as many in the
European countries had developed over the last four decades. They have
substantial progress in many areas," he added.
Meanwhile, Piket said EU trade officials would visit Malaysia next month
to further explore the possibility to start FTA negotiations with Malaysia.
"I expect the exploration will have a positive outcome," he said, adding
that the EU had started bilateral negotiations with Singapore and Vietnam.
The EU seeks bilateral negotiations with Thailand, Singapore and Vietnam
after failing to forge an FTA with Asean as a whole.
"We are not giving up on Asean. Asean is a priority. So, we are looking at
alternative ways of moving forward.
"We propose to a number of Asean countries to first start negotiating
bilateral FTAs that later on could be built into a regional framework and put
together under the Asean umbrella," Piket said.
He said the EU was keen to move ahead with Malaysia and ready to open FTA
negotiations as the country was its second largest trade partner in Asean.
"We are busy exploring and hoping that before too long we can go ahead
because it is supporting trade.
"In the current economic climate we cannot sit still, we have to do
something for the economy, companies and traders. We feel that constructing a
long-term stable trade arrangement between Malaysia and EU will benefit them,"
he said.
Piket said Malaysia's economy would have an additional boost of eight per
cent by 2020 if an FTA with the EU was in place. Malaysia was the Asean member
that stood to gain the most, he added.
Meanwhile, the Asian Strategy & Leadership Institute and the EU delegation
to Malaysia will jointly organise "EU Debate: Asean, The New EU?" here to mark
the 53th anniversary of the foundation of the EU and to commemorate the 30th
anniversary of the EC-Asean Cooperation Agreement on May 18.
-- BERNAMA
