ID :
152050
Thu, 12/02/2010 - 18:42
Auther :
Shortlink :
https://oananews.org//node/152050
The shortlink copeid
ASIA WELL-POSITIONED TO REINVIGORATE HISTORICAL ROLE IN PROMOTING TRADE - PM
KUALA LUMPUR, Dec 2 (Bernama) -- The Asian region is well positioned to
reinvigorate its historical role of expanding trade links among nations and
across continents as it expands in economic prominence, Prime Minister Najib
Razak said Thursday.
For 2011, the International Monetary Fund expects the gross domestic product in
industrialised nations to grow by 2.2 per cent compared with the 6.4 per cent
projected growth in emerging economies led by China and India.
This and other indicators suggest that even in the face of recent global
economic struggles, Asian economies are achieving remarkable economic growth, as
well as increased intra-Asia trade and investment.
"As we move forward together, it is inspiring to remember the Silk and Spice
routes that flourished over the past two millennia and how they promoted the
exchange of wealth, culture and knowledge across the world," Najib said in a
keynote address at the Malaysia International Chinese Business Forum here.
His spech was read out by International Trade and Industry Minister Mustapa
Mohamed.
The forum was organised by the Associated Chinese Chambers of Commerce and
Industry of Malaysia together with the International Trade and Industry Ministry
and Malaysian Investment Development Authority.
Najib said the positive impact that this historical interdependence had on
societies serves as a reminder that the region's future depends on the each of
the nation prospering and contributing to the virtuous cycle of economic growth,
wealth creation and progress.
"It is therefore essential that we continue to seek ways to collaborate with
each other," he added.
As for Malaysia, its trade relationship with Asian countries has grown
substantially with bilateral trade with China, Hong Kong, Taiwan and Singapore
reaching a total of US$92.6 billion, which is 33 per cent of Malaysia's global
trade.
For the first nine months in 2010, Malaysia's trade with these economies rose 36
per cent compared with the same period in 2009.
Besides increasing trade, Najib said there was also increasing investments in
Malaysia from Singapore, Taiwan, China and Hong Kong.
"We believe that recent announcements such as China's recognition of Malaysia as
an approved qualified institutional investor destination as well as the opening
of new branches from regional bank in Malaysia will facilitate and strengthen
these investments," Najib said.
He said the new projects under the Economic Transformation Programme that were
announced on a monthly basis, would spark further investors interest.
Recent initiatives with China range from collaborating with the Chinese
government to create centre of excellence in traditional Chinese medicine to
enhancing cooperation with the Chinese Ministry of Education in pursuing higher
standards of college level education in both countries.
-- BERNAMA
reinvigorate its historical role of expanding trade links among nations and
across continents as it expands in economic prominence, Prime Minister Najib
Razak said Thursday.
For 2011, the International Monetary Fund expects the gross domestic product in
industrialised nations to grow by 2.2 per cent compared with the 6.4 per cent
projected growth in emerging economies led by China and India.
This and other indicators suggest that even in the face of recent global
economic struggles, Asian economies are achieving remarkable economic growth, as
well as increased intra-Asia trade and investment.
"As we move forward together, it is inspiring to remember the Silk and Spice
routes that flourished over the past two millennia and how they promoted the
exchange of wealth, culture and knowledge across the world," Najib said in a
keynote address at the Malaysia International Chinese Business Forum here.
His spech was read out by International Trade and Industry Minister Mustapa
Mohamed.
The forum was organised by the Associated Chinese Chambers of Commerce and
Industry of Malaysia together with the International Trade and Industry Ministry
and Malaysian Investment Development Authority.
Najib said the positive impact that this historical interdependence had on
societies serves as a reminder that the region's future depends on the each of
the nation prospering and contributing to the virtuous cycle of economic growth,
wealth creation and progress.
"It is therefore essential that we continue to seek ways to collaborate with
each other," he added.
As for Malaysia, its trade relationship with Asian countries has grown
substantially with bilateral trade with China, Hong Kong, Taiwan and Singapore
reaching a total of US$92.6 billion, which is 33 per cent of Malaysia's global
trade.
For the first nine months in 2010, Malaysia's trade with these economies rose 36
per cent compared with the same period in 2009.
Besides increasing trade, Najib said there was also increasing investments in
Malaysia from Singapore, Taiwan, China and Hong Kong.
"We believe that recent announcements such as China's recognition of Malaysia as
an approved qualified institutional investor destination as well as the opening
of new branches from regional bank in Malaysia will facilitate and strengthen
these investments," Najib said.
He said the new projects under the Economic Transformation Programme that were
announced on a monthly basis, would spark further investors interest.
Recent initiatives with China range from collaborating with the Chinese
government to create centre of excellence in traditional Chinese medicine to
enhancing cooperation with the Chinese Ministry of Education in pursuing higher
standards of college level education in both countries.
-- BERNAMA
