MALAYSIA'S TRADE WITH US EXPECTED TO RISE VIA TPP

From Elmi Rizal bin Alias

WASHINGTON, Jan 14 (Bernama) -- Malaysia expects total trade with the United
States to increase more than 70 per cent after it gains membership into the
Trans-Pacific Partnership Agreement (TPP).

Deputy Prime Minister Muhyiddin Yassin said trade between Malaysia
and the United States grew 20 per cent or RM15.79 billion (US$1=RM3.05) between
January and October last year compared with the corresponding ten months in
2009.

"Through the TPP and the involvement of eight major countries which are our
trading partners, trade with the United States is anticipated to rise more than
70 per cent," he told Malaysian reporters after a meeting with the United
States-Asean Business Council here on Thursday.

Also present were the Malaysian Ambassador to the United States Dr Jamaludin
Jarjis and the President of the United States-Asean Business Council Alex
Feldman.

Muhyiddin is in the United States for a six-day working visit to Boston and
Washington.

Besides Malaysia, the others members of TPP include the United States,
Brunei, Australia, New Zealand, Chile, Peru, Singapore and Vietnam.

Muhyiddin also said Malaysia was actively involved in the TPP.

"TPP is one step ahead of the Free Trade Agreement (FTA). We realise that
the FTA with the United States is stagnant..it has not made progress perhaps
because President Barack Obama wants to concentrate on domestic policies.

"As such, the move to introduce TPP is not only a step in the right
direction but it is also better than the FTA," he said adding that the TPP was
keenly awaited by both Malaysian and American businessmen

Muhyiddin said Malaysia did not face any problems in the TPP negotiations
and was confident it would be concluded as scheduled.

He said what was vital to the negotiations was the fact that the private
sector, especially the small-and-medium entreprises, and not the government, was
the catalyst to the TPP.

"This is a new scope that we will explore when the TPP is concluded soon,"
he said.

Muhyiddin said the TPP was a strategic collaboration for Malaysia in an
effort to widen trade and investment in the Asia Pacific region.

"We held a meeting in Auckland last December and several follow-up meetings
will be held. This is the kind of committment Obama wants for the TPP, which he
wants concluded before the APEC meeting in Honolulu this November.

"As such, we want the TPP to be successfully concluded before APEC," he
added.

Touching on other issues raised at the meeting, Muhyiddin said Motorola had
proposed to establish a centre of excellence in Malaysia which would help
enhance the output of local technology and innovation-based companies.

Muhyiddin also said Visa Inc, which is involved in credit card operations,
has expressed interest to collaborate with parties in Malaysia's tourism sector.

He added the move would be a strategic partnership in Malaysia's target to
lure 25 million tourists to its shores this year.

Meanwhile, speaking at a seperate function, Muhyiddin said various issues
were raised during his meeting Thursday with Jim Webb, Chairman of the Senate
Sub-committee on East Asia and Pacific Affairs.

He informed Webb of Malaysia's medical presence in Afghanistan and the
progress made, thus far, in the TPP negotiations, besides updating him on
developments in Southern Thailand.

-- BERNAMA