ASEAN IN JOINT TRADE MISSION TO UNITED STATES

By D. Arul Rajoo

BANGKOK, Aug 15 (Bernama) -- Asean economic ministers will undertake a joint
trade and promotion missions in the United States early next year, hoping to
attract more Americans businesses as opportunities widen with the signing of
various free trade agreements (FTAs).

Malaysia's International Trade and Industry Minister Mustapa Mohamed
said the mission, to be undertaken by three or four ministers, would enable the
regional grouping to raise its profile in the US.

Mustapa said they hoped to update the American business community on the
various FTAs that have been signed by Asean, including with China, Australia,
New Zealand and India.

"With a market of close to 600 million population, Asean offers vast
potential for US investors. We want to raise both Malaysia's and Asean's
profile, especially with the new administration in Washington," he said.

Mustapa, who is here to attend the 41st Asean Economic Ministers Meeting,
Saturday met with US-Asean Business Council President, Alexander C. Feldman and
its members.

Trade continues to grow steadily between Asean and the US, with two-way
trade totalling US$182 billion in 2008. The 10-nation Asean is the US' fourth
largest export market and its fifth largest two-way trading partner.

Mustapa said the US remained one of the major trading partners for Malaysia,
and efforts are being made to further strengthen their economic ties after a
lull in the past one year.

He said the government hoped that the appointment of former minister
Jamaluddin Jarjis as Malaysia's ambassador-designate to the US would boost
engagement with the economic giant.

The US' goods and services trade with Malaysia totalled US$48 billion in
2007 while investment reached US$15.7 billion, mostly in the manufacturing
sectors such as electronics and petrochemicals.

Feldman, who assumed the post last June, said American businessmen still
regards Malaysia as an attractive destination despite many US companies looking
at Vietnam and China in recent years.

Malaysia, he said, offers vast potential in the technology sector, adding
that further reduction of tariffs and other trade barriers in the region would
help in the bid to woo US companies.

Asked about the stalled FTA between Malaysia and the US, Feldman said the
council supports such agreement with any countries in the region.

"The time is right for continuing the talk... but it's really up to the
Obama Administration to resume the talk," he said.
-- BERNAMA