Japan-Malaysia economic pact may be signed in December
The Star, Malaysia, Saturday April 23, 2005
Japan-Malaysia economic pact may be signed in December
TOYKO: Malaysia and Japan are close to agreeing in principle the issues related to trade talks and other matters negotiated under the Japan-Malaysia Economic Partnership Agreement (JMEPA).
“Malaysia and Japan are working towards reaching agreement in principle on all issues by end of May 2005 and signing of the JMEPA in December,” International Trade and Industry Minister Datuk Seri Rafidah Aziz told Japanese businessmen from the Tokyo/Kanto region at a seminar here on business opportunities in Malaysia.
The minister is leading a 10-day trade and investment mission to Seoul, Kobe, Tokyo and Hong Kong which will end on April 26.
Her 66-member delegation include Malacca Chief Minister Datuk Seri Mohd Ali Rustam, Malaysian Development Authority (Mida) director-general Datuk R. Karunakaran and Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Merlyn Kasimir.
Rafidah said the JMEPA would further expand bilateral economic relations and co-operation between both countries in various fields.
Discussions on the JMEPA, which includes a free trade agreement (FTA) between the two countries, began in December 2003. Apart from liberalising trade of goods and services, the JMEPA also covers agreements on tourism, standardisation of regulations and intellectual property.
On another note, the minister assured Japanese electronics companies that their high technologies are protected in Malaysia as the country’s intellectual property protection laws conform to international standards.
“Malaysia would also like to attract Japanese electronics companies to establish their research and development (R&D) projects or centres in the country,” Rafidah said.
Among Japanese companies which have established R&D operations in Malaysia are Matsushita, Sharp, Hokuden, Alps Electric and JVC Electronics.
On automotive components, Rafidah said recent plans by Germany’s Infineon to build a chip fabrication plant for automotive and industrial power applications in Malaysia reflected the country’s suitability as a location for automotive electronics manufacturing.
“Japanese companies should take advantage of this new chip plant and chip assembly factories in Malaysia to design and develop automotive electronic components for the local and export markets,” she said. - Bernama
