ID :
31571
Fri, 11/21/2008 - 23:17
Auther :
Shortlink :
https://oananews.org//node/31571
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PRIORITISE IMPLEMENTATION OF APEC SINGLE WINDOW INITIATIVE - MINISTER
From Nor Baizura Basri
LIMA (Peru), Nov 21 (Bernama) -- Asia-Pacific Economic Cooperation (Apec) economies must give priority to implementing the Apec Single Window initiative to speed up movement of goods through the customs to facilitate regional trade.
In making the call, International Trade and Industry Minister Muhyiddin
Yassin said the move is one of the ways to eliminate any kind of obstacles and
trade restrictions that could affect trade and investment.
"We also want to increase trade volume among Apec economies even in the
face
of the current economic turmoil. If we can do this among Apec member economies,
this will be something big," he told reporters after attending the plenary
session of the Apec ministerial meeting.
Muhyiddin pointed out that more than 50 percent of the world trade was
contributed by Apec economies.
Apec, grouping 21 member economies, accounted for more than a third of the
world's population of 2.6 billion people and over 50 percent of the world's
Gross Domestic Product (GDP) and in excess of 41 percent world trade.
Apec also represents the world's most economically dynamic region, having
generated nearly 70 percent of global economic growth in its first 10 years.
Muhyiddin said emphasis should be given to develop small-and medium-scale
enterprises (SMEs) as strong and integrated SMEs would help Apec members to
bridge the development gap and capacity-building.
He said this would enable economies to sustain their economic activities,
create employment and bring prosperity to the region.
At the ministerial session, Malaysia reiterated on the need for close
cooperation between Apec and the Apec Business Advisory Council in promoting SME
development to bring tangible benefits and focusing on specific areas and
sectors.
"We want to see in what way we can help SMEs continue expanding under the
current difficult times.
"For instance, we can work together to improve capacity-building and
develop capabilities in technical collaborations which we can improve among Apec
economies," he said.
Earlier, Malaysia proposed that focus should be given to encourage
enterprises and entrepreneurs to harness technology and knowledge in developing
high value-added products and services and move up the value chain.
On the domestic front, Muhyiddin said Malaysia's leadership transition plan
would not harm investment flow, particularly investors' interest, as the
government was still the same and implementing the same policies.
"Since the policies being implemented are the same, I don't think this will
be a factor for the investors to wait for the right time as any time is a good
time in Malaysia for investors," he said.
Under the transition plan, Deputy Prime Minister Najib Razak will succeed
Abdullah Ahmad Badawi as the prime minister and United Malays National
Organisation (Umno) president at the party's general assembly in March next
year. Umno is the political party leading the ruling Barisan Nasional coalition.
Muhyiddin also reiterated the investment outflows from Malaysia were
"productive investments", reflecting local companies' maturity.
"I want to explain these are productive investments which we encourage as
our Malaysian companies have attained certain standards just like foreign
multinationals," he said.
"Eventhough investment outflows amounted to more than RM10 billion this
year, more investments are flowing into the country," he said when rebutting
opposition claims that investments to the country have taken a beating
following a surge in investment outflows. US$1=RM3.62)
LIMA (Peru), Nov 21 (Bernama) -- Asia-Pacific Economic Cooperation (Apec) economies must give priority to implementing the Apec Single Window initiative to speed up movement of goods through the customs to facilitate regional trade.
In making the call, International Trade and Industry Minister Muhyiddin
Yassin said the move is one of the ways to eliminate any kind of obstacles and
trade restrictions that could affect trade and investment.
"We also want to increase trade volume among Apec economies even in the
face
of the current economic turmoil. If we can do this among Apec member economies,
this will be something big," he told reporters after attending the plenary
session of the Apec ministerial meeting.
Muhyiddin pointed out that more than 50 percent of the world trade was
contributed by Apec economies.
Apec, grouping 21 member economies, accounted for more than a third of the
world's population of 2.6 billion people and over 50 percent of the world's
Gross Domestic Product (GDP) and in excess of 41 percent world trade.
Apec also represents the world's most economically dynamic region, having
generated nearly 70 percent of global economic growth in its first 10 years.
Muhyiddin said emphasis should be given to develop small-and medium-scale
enterprises (SMEs) as strong and integrated SMEs would help Apec members to
bridge the development gap and capacity-building.
He said this would enable economies to sustain their economic activities,
create employment and bring prosperity to the region.
At the ministerial session, Malaysia reiterated on the need for close
cooperation between Apec and the Apec Business Advisory Council in promoting SME
development to bring tangible benefits and focusing on specific areas and
sectors.
"We want to see in what way we can help SMEs continue expanding under the
current difficult times.
"For instance, we can work together to improve capacity-building and
develop capabilities in technical collaborations which we can improve among Apec
economies," he said.
Earlier, Malaysia proposed that focus should be given to encourage
enterprises and entrepreneurs to harness technology and knowledge in developing
high value-added products and services and move up the value chain.
On the domestic front, Muhyiddin said Malaysia's leadership transition plan
would not harm investment flow, particularly investors' interest, as the
government was still the same and implementing the same policies.
"Since the policies being implemented are the same, I don't think this will
be a factor for the investors to wait for the right time as any time is a good
time in Malaysia for investors," he said.
Under the transition plan, Deputy Prime Minister Najib Razak will succeed
Abdullah Ahmad Badawi as the prime minister and United Malays National
Organisation (Umno) president at the party's general assembly in March next
year. Umno is the political party leading the ruling Barisan Nasional coalition.
Muhyiddin also reiterated the investment outflows from Malaysia were
"productive investments", reflecting local companies' maturity.
"I want to explain these are productive investments which we encourage as
our Malaysian companies have attained certain standards just like foreign
multinationals," he said.
"Eventhough investment outflows amounted to more than RM10 billion this
year, more investments are flowing into the country," he said when rebutting
opposition claims that investments to the country have taken a beating
following a surge in investment outflows. US$1=RM3.62)
