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Info from USA:


Trade Facts on Strong Business for the Launch of Free Trade Negotiations between the US and Malaysia

Online Publication Date: 19 April 2006
Trade Facts
Office of the United States Trade Representative www.ustr.gov

March 8, 2006

Strong Business Support for the Launch of Free Trade Negotiations Between the United States and Malaysia

What They Are Saying:

“We believe that there are very substantial benefits that will flow to U.S. farmers, business, workers, investors, and consumers if a comprehensive and commercially viable agreement is reached between the United States and Malaysia…Malaysia and the United States are significant trading partners today and both nations have strong economies. Malaysia is the United States’ tenth-largest trading partner in terms of two-way trade…The successful conclusion of an FTA between our two countries can also promoted further liberalization efforts regionally and globally. Moreover…this will also strengthen the critical political relationship between our two countries.”
-U.S. Malaysia FTA Business Coalition, a coalition of over 40 industry associations, manufacturing and services companies

“We are very pleased to see our governments moving forward on this initiative. The trade and investment benefits to the U.S. are obvious…Malaysia is our 10th largest global trading partner…An FTA with Malaysia will represent a broadening and deepening of a relationship central to our economic interests in the region.”
-Matthew Daley, President, US-ASEAN Business Council

“The NAM has been one of the chief advocates in Washington for an FTA with Malaysia, so we are enormously pleased…Coming on the heels of last month’s announcement of FTA talks with Korea, U.S. manufacturers are now hopeful that our exports to the Asian market will benefit from a solid one-two punch…A free trade deal would level the playing field with Malaysia which already enjoys 85 percent duty-free access to our U.S. market …Right now, Malaysia tariffs are among the greatest barriers to U.S. manufactured goods exports, but its expected rapid economic growth means our exports could more than double by 2010 to about $22 billion if those barriers were eliminated. The reduction or elimination of Malaysia’s non-tariff barriers could further boost U.S. exports and, in the end, a comprehensive FTA will be good for both sides.”
-John Engler, President, National Association of Manufacturers (NAM)

“A comprehensive trade agreement will boost U.S. exports by increasing market access for American farmers, manufacturers and service providers. This announcement signals that Washington is committed to engaging this vibrant and growing region.”
-Dan Christman, Senior Vice President for International Affairs, U.S. Chamber of Commerce

“ECAT applauds today’s announcement that the United States will embark on Free Trade Agreement negotiations with Malaysia. The commercial relationship between the U.S and Malaysia has more than quadrupled over the last 15 years, climbing to more than $44 billion in 2006 from $8.7 billion in 1990. A comprehensive and high-standard Free Trade Agreement with Malaysia, our 10th largest trading partner, will improve and expand this relationship by eliminating barriers to achieving even greater levels of trade and investment. A strong FTA also will strengthen the broader U.S.-Malaysian relationship and enhance U.S. national interests in Asia.”
-Harold McGraw III, Chairman, President and CEO of the Mc-Graw-Hill Companies and Chairman of the Emergency Committee for American Trade (ECAT)

“A U.S.-Malaysia FTA would enable Malaysian and American companies to enter and do business in these markets more easily. Ultimately, Malaysia’s 25.9 million consumers, and America’s 297 million consumers, will be the real beneficiaries of an FTA, as they will have access to a greater variety of products and services at lower costs.”
- Vince Leusner, President, AMCHAM Malaysia (The American Malaysian Chamber of Commerce)

"Malaysia is a very important economy with significant potential opportunities for US service suppliers across the spectrum of service industries… A comprehensive free trade agreement will not only allow US service suppliers to compete on a more equal footing in the Malaysian market, but it will build on our free trade agreement with Singapore and facilitate the expansion of our trade and investment ties with the broader ASEAN region."
-Robert Vastine, President, Coalition of Services Industries

“An agreement with Malaysia would provide an opportunity for the U.S. to increase its access to one of Asia’s largest insurance markets and build upon the Bush Administration’s FTA strategy within the Association of South East Asian Nations (ASEAN)… ACLI strongly supports the Bush Administration’s FTA trade strategy of building bilateral and multilateral momentum for open, efficient and pro-competitive insurance markets that offer consumers better products at competitive prices.”
-Frank Keating, President and CEO, American Council of Life Insurers

“Malaysia is an important market with a strong interest in developing its biotechnology industry… A free trade agreement with Malaysia will provide an important opportunity to work with Malaysia to establish a framework to promote the development of biotechnology that includes a science-based regulatory infrastructure for agricultural biotechnology and ensures strong intellectual property rights for biotechnology inventions…We look forward to working with U.S. Trade Representative Rob Portman on this important initiative .”
-Jim Greenwood, President and CEO of Biotechnology Industry Organization (BIO)

"The United States - Malaysia Free Trade Agreement will play an important role in ensuring the continued competitiveness and longer term growth in Malaysia and the Asia Pacific Region. It will also create many new opportunities for growth and collaboration in bringing value-added
IT services and new solutions through this agreement between the two countries. This stronger business partnership would help spur more Research and Development activities and innovation in the services
sector; and also assist Malaysia in developing its identified growth areas like BioInformatics" –
- Keith Budge, Senior Vice-President, Oracle Asia Pacific

“A successful bilateral free trade agreement between the United States and Malaysia will eliminate most of the remaining barriers to trade, paving the way for increased U.S. exports, and continued growth in infrastructure sales. The FTA will also help us establish a position in Malaysia’s growing financial services sector.”

“It is an enormous win-win that will foster an enabling environment where tariffs go down, while IPR, customs cooperation, and transparency improve.”
-Stuart Dean, President, GE Southeast Asia
-Michael Gadbaw, Vice President, GE and Chairman, US-Malaysia Committee and U.S.-ASEAN Business Council

"The United States and Malaysia have had a strong bilateral relationship for many years. A free trade agreement between the two countries would further strengthen this relationship by developing deeper economic ties. Exxon Mobil Corporation, as the largest US investor in Malaysia, believes a free trade agreement would benefit both countries and supports the completion of an agreement between the two countries."
-Robert W. Haines, Manager, International Government Relations, Exxon Mobil Corporation

“Time Warner believes that a Free Trade Agreement with Malaysia will allow the filmed entertainment industry to further strengthen its cooperation with the Malaysian authorities to protect copyrighted content, whether in optical media, broadcast or online form, and to set a standard for IPR protection that will allow innovative and creative industries to flourish in both countries."
- Spokesperson for Time Warner


 

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