ID :
120976
Sun, 05/09/2010 - 07:47
Auther :
Shortlink :
https://oananews.org//node/120976
The shortlink copeid
MINISTER`S NEW YORK VISIT AIMED AT BOLSTERING CONTACTS WITH US CORPS
By Manik Mehta
NEW YORK, May 8 (Bernama) -- After completing the five-day tour of the
United States as a member of the ASEAN trade ministers' delegation, which took
him to Seattle and Washington DC, International Trade and Industry Minister
Mustapa Mohamed on Friday met US companies as potential investors in
Malaysia.
Mustapa held a roundtable exchange with a group of senior executives of US
corporations, including Crest Group Inc., Dover Corp., Heller Industries, Xtenza
Solutions Inc. and Pratt & Whitney from New York and New Jersey.
But these companies specialise in venture capital, merchant
banking, international law and taxation.
In an interview with Bernama here, Mustapa described his visit as
"successful" and that the roundtable discussions with the corporate executives
were "productive".
"The roundtable discussions focused on companies that are actively
considering investing in Malaysia as also on those companies that are already
operating in Malaysia.
"They (corporate representatives participating in the roundtable
discussions) are bullish about Malaysia. We were also informed about expansion
plans in Malaysia by companies already operating there," Mustapa maintained.
Earlier on Thursday, Mustapa met owners of Malaysian restaurants with a view
to give an impetus to Malaysia's kitchen programme which has been "well
received".
There are also non-Malaysian restaurants, mainly Chinese-owned, that are
toying with the idea of introducing Malaysian cuisine in their menu and avail of
the benefits they can derive from Malaysia's kitchen programme.
Malaysia's kitchen programme, launched last year by the Malaysian External
Trade Development Corporation, has proved to be "highly successful".
Mustapa described his visit as "productive" and "successful".
"The visit has met our expectation. We raised the level of awareness
and increased visibility for Malaysia and the ASEAN region.
"Through this visit we have made sure US companies continue to have a
presence in Malaysia and the ASEAN region.
Secondly, we also participated in a policy dialogue with United States Trade
Representative Ron Kirk and congressmen and senators with a view to update them
about our community," Mustapa observed.
He said his visit was also aimed at sustaining the momentum after the recent
US visit of Prime Minister Najib Tun Razak.
Malaysian politicians and businessmen who visited the United States
generally were of the opinion that the US corporate sector was fixated on China
and India.
It's all the more necessary for ASEAN to ram in to the consciousness of the
US corporate sector and make it aware that the region is not only a 600 million
strong single market but also a potential source of investments.
"We explained to US companies, government offices and NGOs that ASEAN is a
600 million strong market. We emphasised that trade is mutually beneficial for
both sides. Asean is also trying to invest in the United States.
"The important thing for them is to understand that American companies are
not exporting jobs," Mustapa explained.
He also confirmed that the USTR was keen for Malaysia to become a partner in
the Trans-Pacific Strategic Economic Partnership (TPP), a shorter but more
focused trading bloc, mooted by Washington.
"I had already discussed the TPP with the USTR during the APEC meeting.
We are indeed interested in the TPP," he confirmed.
Mustapa also said the free trade agreement (FTA) project with the United
States, which has passed through many "off-on-off" phases in the talks with the
previous administration, was "as good as a closed chapter".
The FTA talks, which a few diehard supporters here had hoped could still be
revived some day, should now be put to rest.
Mustapa said he would like to see US and foreign investments flow into
high-end electronics, energy, biotechnology, maintenance and repairs outsourcing
services for the aerospace industry.
"These are promising areas which also reflect Malaysia's strengths," he
said.
US companies, which usually tend to raise questions of investment protection
as well as safeguards for intellectual property rights, were "less and
less" concerned about such matters when it comes to Malaysia.
"It shows their growing confidence in our safeguards," he quipped.
The USA is Malaysia's third largest trading partner, with two-way trade
exceeding US$31 billion in 2009 and is the second largest foreign investor in
Malaysia with an investment volume of some RM21.6 billion
Malaysia ranked 18th in the list of top 20 trading partners of the US last
year.
-- BERNAMA
NEW YORK, May 8 (Bernama) -- After completing the five-day tour of the
United States as a member of the ASEAN trade ministers' delegation, which took
him to Seattle and Washington DC, International Trade and Industry Minister
Mustapa Mohamed on Friday met US companies as potential investors in
Malaysia.
Mustapa held a roundtable exchange with a group of senior executives of US
corporations, including Crest Group Inc., Dover Corp., Heller Industries, Xtenza
Solutions Inc. and Pratt & Whitney from New York and New Jersey.
But these companies specialise in venture capital, merchant
banking, international law and taxation.
In an interview with Bernama here, Mustapa described his visit as
"successful" and that the roundtable discussions with the corporate executives
were "productive".
"The roundtable discussions focused on companies that are actively
considering investing in Malaysia as also on those companies that are already
operating in Malaysia.
"They (corporate representatives participating in the roundtable
discussions) are bullish about Malaysia. We were also informed about expansion
plans in Malaysia by companies already operating there," Mustapa maintained.
Earlier on Thursday, Mustapa met owners of Malaysian restaurants with a view
to give an impetus to Malaysia's kitchen programme which has been "well
received".
There are also non-Malaysian restaurants, mainly Chinese-owned, that are
toying with the idea of introducing Malaysian cuisine in their menu and avail of
the benefits they can derive from Malaysia's kitchen programme.
Malaysia's kitchen programme, launched last year by the Malaysian External
Trade Development Corporation, has proved to be "highly successful".
Mustapa described his visit as "productive" and "successful".
"The visit has met our expectation. We raised the level of awareness
and increased visibility for Malaysia and the ASEAN region.
"Through this visit we have made sure US companies continue to have a
presence in Malaysia and the ASEAN region.
Secondly, we also participated in a policy dialogue with United States Trade
Representative Ron Kirk and congressmen and senators with a view to update them
about our community," Mustapa observed.
He said his visit was also aimed at sustaining the momentum after the recent
US visit of Prime Minister Najib Tun Razak.
Malaysian politicians and businessmen who visited the United States
generally were of the opinion that the US corporate sector was fixated on China
and India.
It's all the more necessary for ASEAN to ram in to the consciousness of the
US corporate sector and make it aware that the region is not only a 600 million
strong single market but also a potential source of investments.
"We explained to US companies, government offices and NGOs that ASEAN is a
600 million strong market. We emphasised that trade is mutually beneficial for
both sides. Asean is also trying to invest in the United States.
"The important thing for them is to understand that American companies are
not exporting jobs," Mustapa explained.
He also confirmed that the USTR was keen for Malaysia to become a partner in
the Trans-Pacific Strategic Economic Partnership (TPP), a shorter but more
focused trading bloc, mooted by Washington.
"I had already discussed the TPP with the USTR during the APEC meeting.
We are indeed interested in the TPP," he confirmed.
Mustapa also said the free trade agreement (FTA) project with the United
States, which has passed through many "off-on-off" phases in the talks with the
previous administration, was "as good as a closed chapter".
The FTA talks, which a few diehard supporters here had hoped could still be
revived some day, should now be put to rest.
Mustapa said he would like to see US and foreign investments flow into
high-end electronics, energy, biotechnology, maintenance and repairs outsourcing
services for the aerospace industry.
"These are promising areas which also reflect Malaysia's strengths," he
said.
US companies, which usually tend to raise questions of investment protection
as well as safeguards for intellectual property rights, were "less and
less" concerned about such matters when it comes to Malaysia.
"It shows their growing confidence in our safeguards," he quipped.
The USA is Malaysia's third largest trading partner, with two-way trade
exceeding US$31 billion in 2009 and is the second largest foreign investor in
Malaysia with an investment volume of some RM21.6 billion
Malaysia ranked 18th in the list of top 20 trading partners of the US last
year.
-- BERNAMA
