M'SIA MINISTER LEADS TRADE MISSION TO THREE MAJOR US CITIES

By Samantha Tan

KUALA LUMPUR, Sept 15 (Bernama) -- International Trade and Industry Minister
Mustapa Mohamed will from Friday lead a week-long trade and investment mission
to America to bolster bilateral economic and trade ties.

Covering Atlanta, Philadelphia and Washington, the mission marks the
government's continuing efforts to woo more American investment, he said in a
statement Wednesday.

"We hope through such programmes, we can attract more American investors and
industry players to Malaysia and boost two-way trade relations," he said.

This time around, Mustapa said his ministry would focus on investments from
high-technology sectors, which have the potential to generate more jobs,
while creating higher-valued spinoff effects within the industry.

Mustapa said America still remained Malaysia's third largest trading partner
since 2009.

Total trade worth RM68.6 billion (US$1 = RM3.1) between the two countries
from January to July reflected a improvement from RM60.7 billion over the same
period last year, he said.

America is also Malaysia's third largest export destination, registering
RM36.2 billion and RM32.4 billion in exports and imports, respectively, from
January to July.

"This compares well with total exports of RM33.8 billion and imports of
RM26.9 billion over the same period last year," said Mustapa.

The Minister said the US was also Malaysia's third largest foreign direct
investor in 2009, with 19 approved projects worth RM2.3 billion.

For the first half of this year, 11 projects have been approved, with total
investments worth RM307.5 million," he said.

Last year, computer chip maker, Intel, hard disk manufacturer, Western
Digital, communications provider, Motorola, and semiconductor company, Advanced
Micro Devices, were among top 10 US companies with investments in Malaysia.

During the mission, Mustapa will engage in one-on-one meetings and
roundtable discussions with key representatives from targeted industries.

Among the industries are alternative energy, biotechnology, advanced
materials and electronics, pharmaceuticals and services sector.

"We will also be engaged in private meetings with a number of American
firms that have expressed interest in investing in potential high-technology
projects in Malaysia," he said.

Mustapa will also attend the Global Services Summit 2010 in Washington,
where he will be among the panelists in the "Expanding Services Trade and
Investment: A Vision for the Asia-Pacific" Forum.

The minister will also meet Malaysian students and professionals living in
Atlanta and Philadelphia.

He will also hold talks with World Trade Organisation Director-General
Pascal Lamy, US Commerce Secretary Gary Locke and US Deputy Trade Representative
Demetrios Marantis and representatives from the US Congress.
-- BERNAMA