ID :
188454
Tue, 06/14/2011 - 12:07
Auther :
Shortlink :
https://oananews.org//node/188454
The shortlink copeid
MALAYSIA EYES NEW FTA PARTNERS, SAYS MITI
KUALA LUMPUR, June 14 (Bernama) -- Malaysia is exploring the feasibility of engaging new Free Trade Agreement (FTA) partners particularly in the Middle East, South Asia and the Americas.
The International Trade and Industry Ministry said this effort has the potential to expand market access and boost business opportunities for Malaysian exporters and enterprises.
"FTAs will remain an integral part of Malaysia's trade policy and continue to complement efforts at the multilateral level," said the ministry in the Malaysia International Trade and Industry Report 2010.
MITI said outreach efforts will be stepped up to encompass a wider audience.
The government is looking into developing specialised training programmes for exporters to equip them with necessary knowledge, understanding and tools to effectively utilise FTAs, it added.
Last year bilateral FTAs, regional Asean FTAs with India, Australia and New Zealand entered into force on Jan 1, 2010.
Similar bilateral FTA with New Zealand came into force on August 1, 2010; FTA negotiations with Chile and India were successfully concluded; bilateral FTA negotiations with Turkey and the European Union commenced and Malaysia was accepted as a full negotiating partner in the Trans-Pacific Strategic Economic Partnership.
TPP offers huge economic development and can be the catalyst for deeper integration and advancing economic cooperation, as well as, trade and investment liberalisation and facilititation within the region.
It will enhance Malaysia's competitiveness within the region as the
preferred destination for investments.
MITI expected economic prospects for 2011 to be positive and increased competition in the global marketplace would have an impact on Malaysia's trade and industry.
Nevertheless, the prospect of enhanced trade opportunities under FTAs strengthens Malaysia's resolve to pursue further FTA negotiations for the benefits of its industries, SMEs and exporters, the report added.
-- BERNAMA
The International Trade and Industry Ministry said this effort has the potential to expand market access and boost business opportunities for Malaysian exporters and enterprises.
"FTAs will remain an integral part of Malaysia's trade policy and continue to complement efforts at the multilateral level," said the ministry in the Malaysia International Trade and Industry Report 2010.
MITI said outreach efforts will be stepped up to encompass a wider audience.
The government is looking into developing specialised training programmes for exporters to equip them with necessary knowledge, understanding and tools to effectively utilise FTAs, it added.
Last year bilateral FTAs, regional Asean FTAs with India, Australia and New Zealand entered into force on Jan 1, 2010.
Similar bilateral FTA with New Zealand came into force on August 1, 2010; FTA negotiations with Chile and India were successfully concluded; bilateral FTA negotiations with Turkey and the European Union commenced and Malaysia was accepted as a full negotiating partner in the Trans-Pacific Strategic Economic Partnership.
TPP offers huge economic development and can be the catalyst for deeper integration and advancing economic cooperation, as well as, trade and investment liberalisation and facilititation within the region.
It will enhance Malaysia's competitiveness within the region as the
preferred destination for investments.
MITI expected economic prospects for 2011 to be positive and increased competition in the global marketplace would have an impact on Malaysia's trade and industry.
Nevertheless, the prospect of enhanced trade opportunities under FTAs strengthens Malaysia's resolve to pursue further FTA negotiations for the benefits of its industries, SMEs and exporters, the report added.
-- BERNAMA
