FTA To Strengthen M'sia-China Trade :: Bernama.com
FTA To Strengthen M'sia-China Trade :: Bernama.comFTA To Strengthen M'sia-China Trade
KUALA LUMPUR, Aug 12 (Bernama) -- Malaysia's ties with the economic powerhouse of China are set to strengthen further with the implementation of the Asean-China Free Trade Area (FTA), Prime Minister Datuk Seri Abdullah Ahmad Badawi said Friday.
"The Asean-China FTA will set the stage for deeper economic relations," he said in his keynote address at the Malaysia-China Business Forum 2005 here.
"If and when the tariff and non-tariff barriers are brought down under the existing Asean-China FTA, the trade relations between Malaysia and China are poised for even more dynamic growth," he said.
The initial common tariff deduction of Asean-China FTA is to be completed by 2006 while a full free trade area would be completed by 2013.
The Prime Minister said "trade has been and will continue to be a key driver in strengthening relations between the two countries."
Abdullah hopes that Malaysia-China trade would expand in many areas, over and above the robust increase seen recently.
As such, he urged Malaysian companies to start assessing their own operations and look at areas they could gain from China's economic boom.
To compete effectively with others who are also taking advantage of China's economic growth, he said Malaysian companies must meet China's needs, demands and constraints and at the same time "offering value-for-money propositions."
"Awareness and understanding must be updated consistently and continuously over time as things neutrally change very quickly in China," he added.
Abdullah gave the assurance that bilateral relations between Malaysia and China would remain strong in many years to come and believed that the two economies would continue to cooperate in all areas.
-- BERNAMA
KUALA LUMPUR, Aug 12 (Bernama) -- Malaysia's ties with the economic powerhouse of China are set to strengthen further with the implementation of the Asean-China Free Trade Area (FTA), Prime Minister Datuk Seri Abdullah Ahmad Badawi said Friday.
"The Asean-China FTA will set the stage for deeper economic relations," he said in his keynote address at the Malaysia-China Business Forum 2005 here.
"If and when the tariff and non-tariff barriers are brought down under the existing Asean-China FTA, the trade relations between Malaysia and China are poised for even more dynamic growth," he said.
The initial common tariff deduction of Asean-China FTA is to be completed by 2006 while a full free trade area would be completed by 2013.
The Prime Minister said "trade has been and will continue to be a key driver in strengthening relations between the two countries."
Abdullah hopes that Malaysia-China trade would expand in many areas, over and above the robust increase seen recently.
As such, he urged Malaysian companies to start assessing their own operations and look at areas they could gain from China's economic boom.
To compete effectively with others who are also taking advantage of China's economic growth, he said Malaysian companies must meet China's needs, demands and constraints and at the same time "offering value-for-money propositions."
"Awareness and understanding must be updated consistently and continuously over time as things neutrally change very quickly in China," he added.
Abdullah gave the assurance that bilateral relations between Malaysia and China would remain strong in many years to come and believed that the two economies would continue to cooperate in all areas.
-- BERNAMA
posted by Eastlaw @ 8:39 PM
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