ID :
27532
Thu, 10/30/2008 - 17:53
Auther :
Shortlink :
https://oananews.org//node/27532
The shortlink copeid
MALAYSIA MAY BE ABLE TO MAINTAIN PROJECTED EXPORT GROWTH NEXT YEAR
KUALA LUMPUR, Oct 30 (Bernama) -- Malaysia may be able to maintain its projected export growth next year in spite of the current market conditions as there are still opportunities in other markets in India and China, said Minister of International Trade and Industry Malaysia, Muhyiddin Mohd Yassin.
He said there was also growth within intra-Asean regional trade.
"The prospects for exports will also depend on developments in the global
economy especially in view of current financial crisis in US and the slowdown in
global growth," he told a news conference after officiating at 'International
Symposium on EAFTA, CEPEA, FTAAP and Beyond' organised by the Japan Economic
Forum and Institute of Strategic and International Studies Malaysia.
Muhyiddin said the failed Doha Round of trade negotiations were still
relevant for Association of South-East Asian Nations (Asean) and
Malaysia.
"At the officials' level there are discussions to make sure it is still
alive," he said.
Earlier, in his opening address, Muhyiddin said the widest construction of
a
free trade agreement (FTA) was preferred because it would maximise trade
creation and minimise trade-distortion effects.
"The idea of having a regional trading arrangement, which will bring
together countries from both sides of the Pacific, must be welcomed.
"In reality, this needs to be moderated by practicial factors," he
said.
"As you are aware, economic integration efforts require huge
commitments by
countries. There are demands on negotiation capacity and financial resources,"
he said.
Muhyiddin warned smaller developing countries of spreading themselves too
thin.
"Embarking on large and ambitious economic integration initiatives could be
futile if, in the end, they cannot be concluded.
"It is important to convince the world that expanding trade through
economic
integration is one of the ways to restore global economic growth," he
said.
He suggested a stock-take be taken of all the different FTAs in the region
and their impact on businesses.
"The stock-take can also identify the readiness of businesses for a single
region-wide FTA.
He said there was also growth within intra-Asean regional trade.
"The prospects for exports will also depend on developments in the global
economy especially in view of current financial crisis in US and the slowdown in
global growth," he told a news conference after officiating at 'International
Symposium on EAFTA, CEPEA, FTAAP and Beyond' organised by the Japan Economic
Forum and Institute of Strategic and International Studies Malaysia.
Muhyiddin said the failed Doha Round of trade negotiations were still
relevant for Association of South-East Asian Nations (Asean) and
Malaysia.
"At the officials' level there are discussions to make sure it is still
alive," he said.
Earlier, in his opening address, Muhyiddin said the widest construction of
a
free trade agreement (FTA) was preferred because it would maximise trade
creation and minimise trade-distortion effects.
"The idea of having a regional trading arrangement, which will bring
together countries from both sides of the Pacific, must be welcomed.
"In reality, this needs to be moderated by practicial factors," he
said.
"As you are aware, economic integration efforts require huge
commitments by
countries. There are demands on negotiation capacity and financial resources,"
he said.
Muhyiddin warned smaller developing countries of spreading themselves too
thin.
"Embarking on large and ambitious economic integration initiatives could be
futile if, in the end, they cannot be concluded.
"It is important to convince the world that expanding trade through
economic
integration is one of the ways to restore global economic growth," he
said.
He suggested a stock-take be taken of all the different FTAs in the region
and their impact on businesses.
"The stock-take can also identify the readiness of businesses for a single
region-wide FTA.
