[Ip-health] USTR press release: US, Malaysia Announce Intention to Negotiate FTA

[Mike Palmedo]

http://www.ustr.gov/Document_Library/Press_Releases/2006/March/United_State=
s,_Malaysia_Announce_Intention_to_Negotiate_Free_Trade_Agreement.html

United States, Malaysia Announce Intention to Negotiate Free Trade Agreemen=
t

USTR Press Release
03/08/2006

Washington, DC =96 U.S. Trade Representative Rob Portman today announced
the Administration=92s intent to negotiate a Free Trade Agreement (FTA)
with Malaysia, with the goal of removing tariffs and non-tariff barriers
and expanding trade between the countries.

Portman made the announcement on Capitol Hill and was joined by
Malaysia=92s Minister of Trade Rafidah Aziz and a bipartisan group of
leaders in Congress. The negotiations will begin after the expiration of
a 90-day consultation period with the U.S. Congress.

"Malaysia has been at the forefront of the economic dynamism
transforming Asia in recent years," Portman said. "It already is our
tenth largest trading partner, with $44 billion in two-way trade in
2005. Combined with a new trade opening agreement, Malaysia=92s rapidly
growing economy will help generate meaningful export opportunities for
our workers, service providers, and farmers."

"This FTA would be the third we are negotiating in the economically
vibrant and strategically important Southeast Asia region and will
advance the President=92s Enterprise for ASEAN Initiative," said
Ambassador Portman. "Removing trade and investment barriers between our
two nations will improve market access, enhance competitiveness and
increase prosperity for both countries."

"Bipartisanship is paramount in international trade, and I=92m pleased to
see leaders in Congress who are both Republicans and Democrats
supporting today=92s launch," Portman added. "USTR will continue its
intensive bipartisan consultations throughout the negotiations."


Background

The United States is Malaysia=92s largest trading partner and the largest
foreign investor in Malaysia. U.S. exports to Malaysia totaled $10.5
billion in 2005, with top export categories including electrical
machinery, machinery, optic and medical instruments, aircraft, and
plastic. The largest categories of imports from Malaysia were electrical
machinery, machinery, furniture and bedding, rubber, and optic and
medical instruments. Malaysia is also a valuable partner in the ongoing
global trade negotiations, commonly known as the WTO Doha Development
Agenda. And Malaysia is an important player, particularly with respect
to strengthening the protection of intellectual property rights, in the
Asia Pacific Economic Cooperation (APEC) forum.

U.S. Trade Agenda

The United States is working to open markets globally in the Doha WTO
negotiations; regionally through the APEC forum and the Free Trade Area
of the Americas (FTAA) negotiations; and bilaterally with FTAs. Since
2001, FTAs with Australia, Chile, Jordan, Morocco and Singapore have
entered into force. The Bush Administration has also concluded
negotiations with Bahrain, Costa Rica, the Dominican Republic, El
Salvador, Guatemala, Honduras, Nicaragua, Oman, Peru and now Colombia.
Negotiations are under way or about to begin with ten more countries:
Ecuador, the Republic of Korea, Panama, the five nations of the Southern
African Customs Union (SACU), Thailand, and the United Arab Emirates.
New and pending FTA partners, taken together, would constitute America=92s
third largest export market and the third largest economy in the world.

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--
Mike Palmedo
Research and Web
Consumer Project on Technology
T =96 202-332-2670
F =96 202-332-2673
mpalmedo@cptech.org