Considering the U.S. is one of Malaysia's largest foreign investors, it's not surprising the island state plans on resurrecting a free trade agreement with the economic giant and other Asian countries, according to PM Najib Razak.
The agreement has been postponed for three years mainly due to disagreements arising between China and the U.S. As a result, the U.S. has looked into a Trans-Pacific agreement between Chile, Brunei, New Zealand, and Singapore.
In reference to other outstanding agreements Razak states,
"Our view is that any new initiatives should harmonise with existing regional architectures."
The PM recently also met with APEC, comprised of countries representing about half of the world economy. This group will participate in WTO's ongoing Doha Round, keeping to modern liberal values . Hopefully with the meeting will result in something other than a stalemate, as has previously occurred due to India.
Forebodingly, the WB forecasted the world economy will contrast by 2.9%--worst since the Great Depression.
It may be difficult for Razak to raise that FTA from its resting place.
by: Calaya
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment