USTR : US-Malaysia FTA Should Not Hurt National Interests

The United States and Malaysia will not conclude a Free Trade Agreement (FTA) that will hurt our national interests, U.S. Trade Representative, Ambassador Susan Schwab said.

"We're very far along in our FTA (negotiations) with Malaysia ... but there remain a number of outstanding issues," she told a group of foreign journalists from the Asia Pacific region.

Unresolved issues include financial services, intellectual property, competition policies, government procurement and labour.

Schwab said she understood that free trade was always a "hard sell" politically and "it is easy to demagogue trade -- with the exception of Singapore -- every country has important sensitivities."

"(The FTA) is not a gift one country gives to another. It is a gift we give to our citizens, manufacturers, and farmers."

On whether the strong rhetoric by Malaysian International Trade and Industry Minister Datuk Seri Rafidah Aziz had hurt the trade talks, Schwab said, "What Minister Rafidah had said reflects the national interests of Malaysia, and my job is to promote the national interests of the U.S. - but we both believe our country stand to benefit significantly from the FTA."

The U.S. is Malaysia's biggest trade partner with two way trade at RM170 billion while exports reached RM110 billion in 2006.

Schwab pointed out that her deputy, Ambassador Karan Bhatia, had conversations every month with his Malaysian counterpart on the FTA.


 

 


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