CLIMATE CHANGE AGENDA MUST NOT LEAD TO NEW TRADE BARRIERS, SAYS PM

From Muin Abdul Majid

PORT OF SPAIN, Nov 28 (Bernama) -- Malaysian Prime Minister Najib Razak said
efforts to promote climate change must be consistent with keeping global trade
and investment open and free, without raising new barriers to trade and
investment.

The Malaysian prime minister also called for changes in industrial systems,
business models, economic assumptions, market rules and governance frameworks to
tackle the challenges posed by environmental degradation.

"We can't operate in the business-as-usual mode. Both governments and the
private sector need to make changes in the way we operate," he said in his
keynote address to the Commonwealth Business Council here Thursday.

He observed that the various commitments under trade had to be dealt with in
a comprehensive manner in addressing the development agenda of developing
countries as well as measures to mitigate climate change.

"We should endeavour to strengthen economic development in these countries.
Therefore, any standard on the environment should be World Trade Organisation
(WTO)-consistent and not be used as a disguise for protectionism," said Najib.

Najib delivered his speech under the theme "New Approaches to Sustainable
Development: The Way Forward" ahead of the opening of the Commonwealth Heads of
Government Meeting (CHOGM) by Queen Elizabeth II on Friday in this capital of
the Caribbean island of Trinidad and Tobago.

Accompanied by his wife Rosmah Mansor, the Malaysian leader arrived in Port
of Spain on Wednesday for the Nov 27 to 29 summit of Commonwealth leaders
representing 53 former British-ruled nations.

The Commonwealth's membership includes 1.8 billion people, or 30 per cent of
the world's population. Over half are young people aged 25 or under.

In his speech, Najib stressed that developed countries must take the lead
and show stronger commitment towards the reduction of green house gases (GSG)
emission.

"They should also provide assistance to developing countries in terms of
funding, facilitating technology transfer and capacity building to help
integrate the process of mitigation and adaptation efforts to climate change
into development projects," he said.

As far as the private sector was concerned, he said, they should build a
sustainability component into their business strategy.

"I believe that only companies that develop products and services that
address global challenges such as energy supply and access, climate change,
pressure on ecosystems, or water, will be around for the long haul," he said.

Najib shared with his audience Malaysia's experience in achieving the goals
of sustainable development, alluding, among others, to a RM1.5 billion (US$430
million) fund established by the government to provide soft loans to companies
that supply and utilise Green Technology.

The prime minister said for Malaysia, moving towards a greener market could
spell benefits such as savings on foreign exchange, increased competitiveness of
industries, expansion of export markets, new job opportunities and a better
environment.

Citing an example, he said up till June 2009, Malaysia had attracted almost
RM12 billion (US$3.54 billion) in investments in the solar photo-voltaic
industry through foreign
direct investments.

Meanwhile, Najib attended a dinner organised in his honour by Sunway
Construction (Caribbean) Limited Thursday night.

Sunway was the first Malaysian company to have ventured into the
construction sector in Trinidad and Tobago, the most southern islands in the
Caribbean off Venezuela's north eastern coast.

He is scheduled to attend the opening ceremony of CHOGM on Friday after
performing Aidiladha prayers. There will also be a special session on climate
change.

Commonwealth marks its 60th anniversary this year.
-- BERNAMA