GOVT ENCOURAGES FOREIGN BUSINESSMEN TO CAPITALISE ON OPPORTUNITIES FROM ETP

KUALA LUMPUR, Nov 9 (Bernama) -- The foreign business community should
capitalise on opportunities emerging from Malaysia's Economic Transformation
Programme (ETP).

Prime Minister Najib Tun Razak said the ETP, a collaboration between the
government and the private sector, had identified 131 entry point projects
(EPPs) worth RM444 billion and 60 business opportunities worth RM358 billion.
(US$1=RM3.08)

"These programmes will serve to unleash the potential within the economy and
make it easier for the private sector to drive economic growth," he added.

"I propose that while you are here this week, you should take the
opportunity to explore the possibilities the ETP has in store," he said at the
official launch of the International Trade Malaysia 2010 (Intrade) and the KL
International Trade Forum 2010, here Tuesday.

His speech was read by Minister of International Trade and Industry, Mustapa
Mohamed.

Najib said the government had implemented two stimulus packages to
revitalise economic growth and had begun work on economic reform to emerge from the
global downturn in better shape.

"Instead of retreating behind the veil of protectionism, we are focused on
liberalising the economy and facilitating the ease of doing business.

"We are changing the way the government functions and serves the people and
businesses under the Government Transformation Programme," he explained.

Najib also said the government had made a deliberate policy decision that
Malaysia needs fair and free trade to sustain its growth trajectory.

He said Malaysia is undertaking autonomous liberalisation as well as
liberalisation through engagements in free trade agreements, bilaterally and
through its membership in Asean.

"We have Free Trade Agreements (FTAs) with our main trading partners and are
pleased to be part of the negotiations towards the Trans Pacific Partnership
(TPP).

"We are fully committed to pursuing policies that can increase our
trade opportunities, open our markets for foreign and domestic
investors and create jobs in Malaysia," he said.

To date, Malaysia has concluded four bilateral FTAs, namely with Japan,
Pakistan, New Zealand and Chile.

It also has six regional FTAs between Asean and its several
partners,specifically, Asean-China, Asean-Korea,Asean-Japan, Asean-India,
Asean-Australia and Asean-New Zealand.

The Intrade exhibition which began today, ends on Nov 11.

A total of 385 booths have been taken up by 370 companies comprising 285
Malaysian and 85 foreign participants from Indonesia, Thailand, Cambodia, Hong
Kong, India, Japan, Nigeria, Pakistan, Sri Lanka and the UAE.

More than 700 international buyers from 539 companies and 58 countries are also
participating in the programme.
-- BERNAMA