ID :
41951
Wed, 01/21/2009 - 15:26
Auther :
Shortlink :
https://oananews.org//node/41951
The shortlink copeid
US-MALAYSIA FTA TO BE FAST-TRACKED
KUALA LUMPUR, Jan 21 (Bernama) -- The United States-Malaysia Free Trade Agreement (FTA) is to be fast-tracked under the administration of the new U.S. President Barack Obama, U.S. Ambassador to Malaysia James R. Keith said Wednesday.
He said the FTA will be finalised after the officials in charge of trade
negotiations have been appointed under the new administration.
"The U.S. commitment on the FTA will remain as this is important for the
Malaysia's economic growth and for U.S. companies investing in Malaysia," Keith
said at the US Presidential Inauguration Party.
"The U.S. will continue to invest in this country and market our products
to advance mutual interests," he said.
Keith also emphasised on the need for governments to join forces to generate
economic growth under the current economic environment.
In this respect, he said, new changes in U.S. policies are also expected in
the light of current global economic climate.
"The Obama administration will also introduce policies that are more
appealing to the present generation," he said.
Under the current tough times, Keith said it is important to resist
temptations on protectionism policies that serves to benefit only individual
countries as this will derail trade and global economic growth.
He said businesses are facing tough times with US companies gearing for a
long haul of more challenging times.
American-Malaysian Chamber of Commerce president Karen Albertson said as the
"going gets tough, the tough gets going" as American firms now under pressure
will have to pay close attention to fundamentals that will sustain companies
through these hard times.
"American companies will have to look at ways to consolidate their
operations, reduce costs and look at ways to eliminate over-capacity," she said
when speaking at the party.
She said there are still opportunities even during the current economic
crisis.
Even for the electronics industry, Albertson said there is still ample
investment prospects in Malaysia for American companies.
-- BERNAMA
He said the FTA will be finalised after the officials in charge of trade
negotiations have been appointed under the new administration.
"The U.S. commitment on the FTA will remain as this is important for the
Malaysia's economic growth and for U.S. companies investing in Malaysia," Keith
said at the US Presidential Inauguration Party.
"The U.S. will continue to invest in this country and market our products
to advance mutual interests," he said.
Keith also emphasised on the need for governments to join forces to generate
economic growth under the current economic environment.
In this respect, he said, new changes in U.S. policies are also expected in
the light of current global economic climate.
"The Obama administration will also introduce policies that are more
appealing to the present generation," he said.
Under the current tough times, Keith said it is important to resist
temptations on protectionism policies that serves to benefit only individual
countries as this will derail trade and global economic growth.
He said businesses are facing tough times with US companies gearing for a
long haul of more challenging times.
American-Malaysian Chamber of Commerce president Karen Albertson said as the
"going gets tough, the tough gets going" as American firms now under pressure
will have to pay close attention to fundamentals that will sustain companies
through these hard times.
"American companies will have to look at ways to consolidate their
operations, reduce costs and look at ways to eliminate over-capacity," she said
when speaking at the party.
She said there are still opportunities even during the current economic
crisis.
Even for the electronics industry, Albertson said there is still ample
investment prospects in Malaysia for American companies.
-- BERNAMA
