FMM APPLAUDS MALAYSIA'S ACTIVE PARTICIPATION IN NEW FTA TALKS

KUALA LUMPUR, Oct 9 (Bernama)-- Malaysia's move to initiate trade talks with
eight other Pacific Rim countries under the Trans-Pacific Partnership which
includes the United States and the European Union will enhance its competitive
and put it in good stead to attract increased investments.

In welcoming Kuala Lumpur's move, the Federation of Malaysian Manufacturers
(FMM) said the initiative was timely and well-placed given the current
challenges faced by the nation in attracting higher inflows of foreign direct
investment and moving Malaysia into the ranks of a high income country.

Malaysia will also gain through cooperation, capacity building measures and
trade facilitation, it said.

"We are confident that the FTAs (free trade agreements) will enhance
Malaysia's position as an attractive location for global production and hence
will create more job opportunities and other technological and economic
spin-offs for the country," said FMM in a statement Saturday.

The Trans-Pacific Partnership and the European Union-Malaysia FTAs are
expected to have a greater potential impact than traditional FTAs as these
agreements go beyond the liberalisation of flows of goods to also address market
integration issues, including facilitating investments, services and mobility of
people.

-- BERNAMA



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