ASEAN TO PURSUE TRADE AGREEMENTS BEYOND THE WTO

KUALA LUMPUR, Nov 30 (Bernama) -- Asean has expressed its desire to see a
revival of trade talks, and on its own, will continue to pursue trade agreements
beyond the World Trade Organisation (WTO).

The opening of markets in a fair and balanced manner will correct imbalances in
the longer term, while raising opportunities for job-creation in the short and
medium term, Prime Minister Najib Razak said.

"Post the global financial crisis, I believe it is through trade opening
measures that we can bring back prosperity to the developed, emerging and
developing economies, and hence, the global economy as a whole," he added.

He said this in his keynote address at the 7th Asean Finance Ministers'
Investors Seminar here, Tuesday.

Najib, who is also the Finance Minister, said foreign investment in Asean had
gone beyond the simple provision of capital by bringing in new technology,
skills and connectivity to the global market place.

In return, foreign investment in Asean has yielded very attractive returns, with
net profit and dividends for non-residents, ranging from US$500 million to US$14
billion across the various countries within it in 2009.