Window For Malaysia To Punch Up Economic Links With The U.S.
From Tham Choy Lin
WASHINGTON, April 10 (Bernama) — Malaysian ambassador to the United States Datuk Seri Jamaludin Jarjis said the time has come for corporate Malaysia to re-engage with the United States following a shift for the better in ties between the two countries under the Obama admnistration.
Jamaludin, the member of parliament for Rompin who assumed the diplomatic post last July, said the US remains a vital world market even as interest continues to grow over China and India.
“We seem to underplay America and the Americans feel that we are not punching to our weight in terms of economy, promotion and tourism,” he told Malaysian media on Friday on the eve of the arrival of Datuk Seri Najib Tun Razak here for a week-long working visit.
Malaysian companies should tap American technology and innovation to drive the government’s vision of achieving a knowledege-based and high income economy outlined in the New Economic Model unveiled by Najib recently.
Jamaludin pointed to Malaysia having slid from being the top 10th trading partner once to the 18th place now.
“As a world market, America is very important. While before it was difficult for us to engage them but with this opening up in our relations, it opens a window to re-engage them.
“There are so many benefits to our future especially in the re-engineering of our economy and to create more jobs and opportunities,” he said.
Jamaludin asked Malaysian businessmen to look again at the world’s source of technology, venture capital and entrepreneurs.
“It is still America. When Malaysians come here, they say there is the security issue of shoes and belts but leave that aside, they are doing that for all, they are not selective,” Jamaludin stressed.
He said Malaysian companies can tap into American technology and do prototyping in Malaysia and do production both in the US and Malaysia for their regional markets.
The Prime Minister, who is visiting the US for the second time since he took office a year ago, will devote a greater part of his time here to meet American global brand chief executives, key government commerce officials, venture capitalists and fund managers.
Malaysia and Washington had failed to seal a free trade agreement under the previous Bush regime after eight rounds of talks.
Jamaludin said Washington top trade officials were now keen to meet the Prime Minister on the US proposed Trans-Pacific Partnership aimed at increasing economic cooperation across the Asia-Pacfic region.
The Prime Minister is scheduled to meet the chief executives of well-known companies such as Conoco Phillips, Intel, Motorola and Coca Cola which hit the headlines recently with their announcement it would build a new bottling plant in Malaysia with an investment of RM1 billion.
He will also meet executive members of the US-Asean Business Council and US Chamber of Commerce and top venture capitalists here.
The Prime Minister is also scheduled to meet World Bank president Robert Zoellick on Thursday before heading for New York.
The World Bank, in its economic monitor of Malaysia released in November, forecast Malaysia’s growth at 4.1 per cent this year on the back of its fundamental resilience.
In the Big Apple, Najib will have another roundtable with business captains organised by Goldman Sachs and also meet IBM president Samuel J.Palmisano.
Jamaludin said the meetings would give the Prime Minister the opportunity to give the business leaders a close-up of Malaysia’s New Economic Model that was unveiled recently to transform the country into a high income economy with quality growth.
Malaysia reported a higher than expected fourth quarter growth last year of 4.5 per cent and Bank Negara has forecast Gross Domestic Product to expand 4.5 per cent to 5.5 per cent this year.
Source: Bernama
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