M'SIA TO PUSH FOR MORE CONDUCIVE REGIONAL TRADE, INVESTMENT ENVIRONMENT IN APEC MEETING

KUALA LUMPUR, Nov 9 (Bernama) -- Malaysia will continue to push for more
conducive regional trade and investment environment at the two-day 22nd
Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in Yokohama
beginning Wednesday, said the International Trade and Industry Ministry Tuesday.

It said Malaysia would use the opportunity to reiterate the need for economies
to keep their markets open and to refrain from protectionism.

It would also reiterate the need to retain APEC’s characteristic as a voluntary
and non-binding forum while pursuing the Free Trade Area of the Asia-Pacific
(FTAAP); and to recognise the differing characteristics of economies in the
implementation of the APEC Growth Strategy to facilitate necessary adjustments
in the evolving global economic environment.

Also on Malaysia's list is the need to tailor structural reforms in
addressing national needs by taking into account the level of development and
sophistication of economies, it said in a statement.

Another point is to conclude the World Trade Organisation (WTO) Doha Development
Agenda (DDA) negotiations expeditiously, it said, adding that the DDA was very
relevant; and that a rules-based multilateral trading system was important for a
balanced and inclusive global economic growth.

APEC economies must provide the collective push necessary to take advantage of
the window of opportunity that 2011 provides to conclude the round, it said.

MITI said Malaysia would also use the opportunity to highlight the measures
undertaken to revive the economy including implementation of the Government and
Economic Transformation Programmes which would contribute to achieving APEC's
target of free and open trade and investment in the region.

It said the APEC meeting would be focusing on creating a more dynamic global
economic environment.

In line with the theme of APEC 2010 “Change and Action” APEC Ministers for Trade
would use the opportunity to discuss the current state of the economy in the
Asia-Pacific region, assess progress made by APEC during the year and the way
forward for the economies in the region, it said.

The Malaysian delegation to the meeting will be led by Abdul Rahman Mamat,
secretary-general of the Ministry of International Trade and Industry.

Among the key areas of focus are the assessment on the progress made by APEC
economies to realise the Bogor Goals targeting free and open trade and
investment; possible approaches towards achieving the FTAAP; APEC economies’
response to global economic challenges; structural reforms and implementation of
the APEC Growth Strategy premised on Balanced, Inclusive, Sustainable,
Innovative and Secure Growth, MITI said.

The ministers would also review the progress and commitments to conclude the DDA
negotiations, it said.

The APEC Ministerial Meeting Agenda was important and relevant in promoting and
enhancing trade and investment environment in the region as a way towards
achieving regional economic integration, it said.

APEC economies represent 44 per cent of global trade, 54 per cent of global
gross domestic product and 40 per cent of world population.

In 2009, Malaysia’s total trade with APEC member economies amounted to RM709.5
billion, accounting for 76.7 per cent of total trade. (US$1=RM3.08)

APEC is also a major source of Foreign Direct Investment (FDI) for Malaysia.
Approved FDI in the manufacturing sector in 2009 from APEC member economies
amounted to RM18.44 billion, representing 83.4 per cent of total investments
approved.
-- BERNAMA