M’sia among top priority countries for US in FTA negotiations
Bernama, Malaysia
M’sia Among Top Priority Countries For US In FTA Negotiations
By Siti Hawa Othman
25 August 2006
KUALA LUMPUR, Aug 25 (Bernama) — Malaysia is among the few countries given priority by the United States in its free trade agreement (FTA) negotiations before the expiry of the Trade Promotion Authority (TPA), said US Trade Representative Susan C. Schwab.
She said the FTAs that were being negotiated within the purview of the TPA, due to expire on July 1, 2007, were with Malaysia, Thailand, South Korea and the United Arab Emirates.
Another nation involved is Panama, where there is no sign of reaching an agreement after protracted negotiations, and the US will not add anymore countries to the list for now.
Speaking to reporters after meeting the Minister of International Trade and Industry Datuk Seri Rafidah Aziz at her office here today, she said negotiations with Malaysia was tough.
"Neither of us are the most patient of negotiators and this kind of pace fits our personalities," she said in jest.
She added that unless both parties achieved a mutually beneficial arrangement, the deadline would not be met.
"The FTA is not a gift that Malaysia gives to the US and not a gift that the US gives to Malaysia. Unless both countries agree to a mutually beneficial deal , there won’t be a deal."
She said both Malaysian and US businessmen had been exporting US$33 billion worth of products to the US.
An FTA, she said, would help lock in that market access and grow a different market access for new industries developing in Malaysia.
However, she said many of the things negotiated in the FTA were consistent with Malaysia’s economic development plans which included building a knowledge-based economy, promoting innovations and diversifying the economic base.
"The elements of FTA are supportive and synergistic. And having a more open trade fits in with President Bush’s agenda for open trade," she said.
Asked on the trouble spots in the discussion, Rafidah replied that there were some sensitive issues to both sides which needed to be discussed or studied further and some which could be cleared off easily.
"I wouldn’t call these trouble spots. If there are trouble spots, why would we negotiate anyway?"
Schwab, on the other hand, said the toughest issues would be among the last ones to be negotiated in the 20-over chapters of the agreement.
