ID :
28707
Wed, 11/05/2008 - 19:55
Auther :
Shortlink :
https://oananews.org//node/28707
The shortlink copeid
OBAMA'S POLICY TO IMPROVE WORLD TRADE HIGHLY ANTICIPATED, SAYS M'SIAN MINISTER
KUALA LUMPUR, Nov 5 (Bernama) -- The newly elected US president Senator
Barack Obama is highly anticipated by the international community which await
the adoption of the policy that can improve world trade finance.
In congratulating Obama for his victory, Malaysian Minister of
International Trade and Industry Muhyiddin Yassin said there would be high
expectations from
the international community in terms of foreign, trade and domestic
policies.
"What we would like to see is America not only playing an important role
but a critical role, particularly in trade with developing countries like us,"
he told reporters after unveiling the trade figures for September here
Wednesday.
"Our concern is the economic and international crisis. The United States is
facing with the most severe financial crisis. We want to see whether America
under Obama will adopt a pro-protectionist policy to safeguard with its domestic
interests like employment, job creation, investment and businesses," he
said.
Besides that, Malaysia wants the new US administration to take proactive
engagement which would give value to relationships between countries,
particularly in investment and trade as well as foreign policies, Muhyiddin
said.
Obama secured 338 electoral votes compared John McCain's 156 to become the
44th President of the United States and the country's first black
president.
Meanwhile, Moody's Economy.com, in a statement, said governments and
markets in Asia would be watching closely the incoming administration's approach
regarding regulations, notably of the financial markets.
"US president-elect Obama has at times sounded protectionist, and time will
tell whether this will meaningfully impact the further development of trade
links around the world," its economist Sherman Chan said.
Chan said policymakers in Asia were tentatively supporting leaders in
Europe calling for enhanced regulation.
"The severity of this economic downturn can be mitigated by sound
government policies, and high hopes are placed on the incoming president to
revive the distraught economy, assist struggling households and boost business
confidence," she said.
Chan said the continued elimination of political uncertainty in the United
States and announcement of further stimulus measures will be welcomed by
Asia-Pacific markets.
-- BERNAMA
Barack Obama is highly anticipated by the international community which await
the adoption of the policy that can improve world trade finance.
In congratulating Obama for his victory, Malaysian Minister of
International Trade and Industry Muhyiddin Yassin said there would be high
expectations from
the international community in terms of foreign, trade and domestic
policies.
"What we would like to see is America not only playing an important role
but a critical role, particularly in trade with developing countries like us,"
he told reporters after unveiling the trade figures for September here
Wednesday.
"Our concern is the economic and international crisis. The United States is
facing with the most severe financial crisis. We want to see whether America
under Obama will adopt a pro-protectionist policy to safeguard with its domestic
interests like employment, job creation, investment and businesses," he
said.
Besides that, Malaysia wants the new US administration to take proactive
engagement which would give value to relationships between countries,
particularly in investment and trade as well as foreign policies, Muhyiddin
said.
Obama secured 338 electoral votes compared John McCain's 156 to become the
44th President of the United States and the country's first black
president.
Meanwhile, Moody's Economy.com, in a statement, said governments and
markets in Asia would be watching closely the incoming administration's approach
regarding regulations, notably of the financial markets.
"US president-elect Obama has at times sounded protectionist, and time will
tell whether this will meaningfully impact the further development of trade
links around the world," its economist Sherman Chan said.
Chan said policymakers in Asia were tentatively supporting leaders in
Europe calling for enhanced regulation.
"The severity of this economic downturn can be mitigated by sound
government policies, and high hopes are placed on the incoming president to
revive the distraught economy, assist struggling households and boost business
confidence," she said.
Chan said the continued elimination of political uncertainty in the United
States and announcement of further stimulus measures will be welcomed by
Asia-Pacific markets.
-- BERNAMA
