TWN Info Service on Free Trade Agreements

21 June 2006
 

M\\\'sia Will Not Sign FTA With US If It Is Not Right, Says Rafidah


KUALA KANGSAR, June 20 (Bernama) -- Malaysia will not sign a Free Trade Agreement (FTA) with the United States if the conditions are not beneficial or right for the country, Minister of International Trade and Industry Datuk Seri Rafidah Aziz said.

She said she has informed the Americans of her standing and they understand the position.

\\\"I have told them (US) that if the negotiations between the two countries come to a pact, all and good but if they don\\\'t, then it would have to be \\\'goodbye\\\',\\\" she told reporters after presenting appreciation awards to successful entrepreneurs, here Tuesday.

Malaysia and the US are now into their second round of negotiations for the FTA which started on June 16 in the US.

Both parties are putting forward their respective requests under the trade arrangement.

Rafidah said that whether the government signs the agreement would depend on the contents in relation to the country\\\'s interest.

If the agreement can improve trade between the two countries, it would be signed but it would not have to be signed if there are implications of huge losses for the country, she said.

Rafidah said the second round of negotiations was necessary to understand and be sure of all the implications under the FTA.

She added that the government would always continue to ensure that all FTAs with any country be it the US, China, India, Japan, or any other country, is always in synch with the rights, sovereignty and interest of the country.

She also added that Malaysia will not rush to sign the FTA with US and any time limit set by the US should not be the reason to rush into the agreement or agree to something both countries are not agreeable to.

On March 8, Malaysia and the US launched their negotiations for the FTA.