PROGRESS ON M'SIA-US FTA TALKS HINGES ON U.S. POLICIES UNDER OBAMA

PUTRAJAYA, Nov 7 (Bernama) -- Progress on Malaysia-US Free Trade Agreement (FTA) talks between Malaysia and the United States will depend on the policies implemented by the administration of newly-elected president Barack Obama.

Deputy Prime Minister Najib Razak said Malaysia was keen
to see the policies of Obama, the first African-American president to enter the
White House, the official residence of the US president.

"We want to see the policies of the new president. It looks like we cannot
conclude the FTA talks under the administration of the current president
George W. Bush.

"I hope they (the US) will see that what the world actually needs is not
more assistance but a free trade regime that is fair and just," said Najib, who
is also Finance Minister.

The Deputy Prime Minister said usually the Democrat Party, the party
Obama
belongs to and will helm the US Administration, would play more of a "protector"
role than the Republican Party.

Najib was speaking to reporters after chairing the National Disaster
Relief
and Management Committee meeting.

Asked whether there is a need for the government to consider issuing
bonds to finance its expenditures, he said the government has to borrow for
development purposes.

"The government has to borrow for development because whatever we
have in terms of government revenue is not sufficient to cover all that is
required for development expenditure.

"That is why there is a government fiscal deficit and the fiscal
deficit has been fixed at 4.8 percent," he said.

Asked whether any special body would handle the privatisation of government
land, he said the government would come up with the details later.