US-Asean Business Council endorses US-Malaysia FTA talks
US-ASEAN Business Council
US-Asean Business Council endorses US-Malaysia FTA talks
8 March 2006
(Washington, DC) The US-Asean Business Council today endorsed negotiation and passage of a comprehensive US-Malaysia Free Trade Agreement that is commercially meaningful and of the highest standard.
"We are very pleased to see our governments moving forward on this initiative. The trade and investment benefits to the US are obvious. Our companies account for the biggest foreign investments in Malaysia, and Malaysia is our 10th largest global trading partner," said Matthew Daley, President of the US-Asean Business Council.
"But the agreement is even bigger than that. An FTA with Malaysia will represent a broadening and deepening of a relationship central to our economic interests in the region."
The Council has been the leading private sector advocate behind the start of FTA talks with Malaysia. In December of last year, Daley led a Council delegation of 18 executives to Malaysia to encourage the start of FTA talks.
Interaction with key Malaysian officials on that visit left no doubt that Malaysia was prepared to move forward in a serious, focussed way.
At a March 8, Washington, DC launch of the US-Malaysia FTA Business Coalition, Walter Lohman, senior vice president of the Council said, "This agreement is a major opportunity for our companies. We’re ready to get to work and make the most of it. We’re here at the take-off today, and we’ll be there at the end, working to get a comprehensive, high quality, commercially meaningful FTA through Congress."
Marc Mealy, senior director of the US-Malaysia Business Council, noted further, "The start of FTA talks reflects the continued maturation of the overall US-Malaysia bilateral relationship and presents a unique opportunity to expand our rich history of mutually beneficial trade and investment ties."
The US-Asean Business Council is the Secretariat of the US-Malaysia FTA Business Coalition.
The Coalition is co-chaired by representatives of several of the most recognised US brands, including American International Group, Cargill, Citigroup, Discovery Communications, Inc, Federal Express, General Electric Company, Intel Corporation and Oracle Corporation.
Its Steering Committee is composed of the most influential American trade associations active in Washington, DC, including the American Malaysian Chamber of Commerce, Coalition of Service Industries, Emergency Committee for American Trade, National Association of Manufacturers and the United States Chamber of Commerce.
With talks now announced, the full weight of this coalition will be brought to bear on achieving an agreement that can pass Congressional muster, and on building the necessary Congressional support.
