Rafidah wants private sector to continue to be proactive in FTA, WTO processes
Bernama, Malaysia
Rafidah Wants Private Sector To Continue To Be Proactive In FTA, WTO Processes
7 May 2005
KUALA LUMPUR, May 7 (Bernama) — International Trade and Industry Minister Datuk Seri Rafidah Aziz wants the Malaysian private sector to continue to be proactively engage in the country’s Free Trade Agreements (FTAs) and World Trade Organisation (WTO) processes.
"The private sector in Malaysia must continue to input towards the negotiations," she said in her keynote address at the Kuala Lumpur Business Club Dialogue on Trade Liberalisation - What Form and Direction -, here.
Rafidah said that such effort would ensure a satisfactory balance between the interest of the domestic industry in the Malaysian market and opportunities for new markets to be created through trade liberalisation.
She said that Malaysia was always looking forward to seek ways on how to balance the differential in tariffs on exports among the developing countries.
Thus, she added that the next round of negotiations of the Doha Development Agenda, to be held in Hong Kong by end of this year, would be able to conclude some basic agreements regarding free trade market.
It is now time to negotiate on the modalities to include the framework to cut the tariffS, Rafidah said.
"Hopefully, the next round of negotiations will be fruitful as some issues, for example subsidies in agriculture, which have previously posed as a stumbling block, can be resolved," she added.
She said that this development should, somewhat, please the developing countries.
As for the issue on agriculture, the minister said that Malaysia was looking forward to seek ways on how to balance the differential in tariffs on exports among the developing countries.
On issues regarding non-agriculture market access, she said that Malaysia would also seek substantial reductions in tariffs that would facilitate multilateral trade.
Earlier, touching on trade liberalisation, Rafidah said that there was a need to understand and look at the total picture of trade liberalisation.
She said that trade liberalisation meant removing constraint to free flow of trade in goods as well as services whether constraint at the border, at regional level or global level.
She added that constraint could be in several ways such as tariff, or non-tariff barriers.
Therefore, Rafidah said that liberalisation is aimed at providing greater market access through the removal of the constraint to free trade and measures to facilitate trade.
