Rousing start to FTA talks
The Star, Malaysia
Rousing start to FTA talks
By Johan Fernandez
10 March 2006
WASHINGTON: The Malaysia-US Free Trade Agreement (FTA) talks got off to a rousing start with 18 Senators and members of the House of Representatives, both Democrat and Republican, turning up to show support.
In Washington, where nearly everything is along partisan lines, it is refreshing to see Senators and members of the House of Representatives come together to extol the need for an FTA and why it should be done quickly.
US trade representative Rob Portman said this was the first time that he had seen such a large turnout of Senators and members of the House of Representatives for the launch of an FTA.
Even President George W. Bush chipped in. In a statement from the White House, he said US and Malaysia shared strong trade and investment ties and a commitment to generating prosperity through openness, democracy and freedom.
“Today, we seek to further strengthen the ties between our two countries by launching negotiations on a comprehensive US-Malaysia FTA. Once completed, an FTA with Malaysia will generate significant commercial, economic, political and strategic benefits to both countries. It will improve our ties with the South-East Asian region and strengthen our engagement in Asia.
“Malaysia is our 10th largest trading partner, and the US is Malaysia’s second largest source of imports. A US-Malaysia FTA will advance our commitment to opening markets around the world and expanding opportunities for America’s farmers, ranchers, workers and businesses,” he said.
Agriculture Secretary Mike Johanns also commended the two countries for starting the talks.
The fact that Malaysia was US’ 10th biggest trading partner with US$44.2bil in trade in 2005 was referred to by nearly every speaker.
Vice-chairman of the US House International Relations sub-committee member of the House of Representatives Dan Burton (Republican-Indiana) said an FTA would not only strengthen growing relations, but also provide another valuable market for Indiana’s goods and services. “Notably, in less than five years, Indiana’s exports to Malaysia had nearly doubled from US$39mil in 2000 to over US$70mil in 2004. And with Malaysia importing over US$389mil in American agricultural products, a US-Malaysia FTA will only come to benefit Indiana’s agro business and other American producers,” he said.
Pete Sessions (Republican-Texas), who is the co-chair of the House of Representatives Malaysia Caucus with Gregory Meeks (Democrat-New York) described Malaysia as a “strong trading partner and an ally in the War on Terror.” He said an agreement could increase US exports to Malaysia and ensure the competitiveness of American products in the market.
US Chamber of Commerce senior vice-president (international affairs) Dan Christman said: “A comprehensive trade agreement will boost US exports by increasing market access for American farmers, manufacturers and service providers.”
The US-Asean Business Council endorsed negotiations and passage of a comprehensive FTA that is commercially meaningful and of the highest standard.
