“It is incumbent (on us) to work very hard to reverse the trend to become one of the top trading partners … there are enormous opportunities,” said Deputy Trade Representative Demetrios Marantis.
Marantis was in Kuala Lumpur yesterday to meet several ministers and brief them on the process and the progress of talks for the Trans Pacific Partnership (TPP), a regional trade pact.
The US, which is pursuing negotiations with the eight-country partnership which includes Australia, Brunei, Chile, New Zealand, Peru, Singapore and Vietnam, is keen for Malaysia to join.
The first two rounds of this “21st century” trade agreement which, he described as more innovative than a normal trade pact, have strong momentum and the third round is scheduled for October.
“We have made very clear at the time the TPP was formed, that we view it as a platform for regional integration in the Asia Pacific and we are hopeful that it will continue to grow, and as countries are ready to take on the high standards,” at a media briefing in Putrajaya yesterday.
Malaysia and the US had placed their bilateral free trade agreement talks on hold following the Obama Administration’s shift in trade policy.
Saying it is up to Malaysia to undertake commitments under the TPP, he said both countries are also working together in other platforms like the Asean-US Trade and Investment Framework Agreement (TIFA) and Asia-Pacific Economic Cooperation (Apec) forum.
By Rupa Damodaran
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