Malaysia: EU hopes to complete FTA in two years: Ambassador
Sin Chew Daily | 2007.08.24
Malaysia: EU Hopes To Complete FTA In Two Years: Ambassador
PETALING JAYA, MALAYSIA: European Union ambassador to Malaysia, Thierry Rommel, says the FTA (Free Trade Agreement) negotiations with ASEAN can be wrapped up within two years and this can lead to a 25 % increase of ASEAN exports to the E.U.
He said EU and ASEAN agreed May 2007 on agenda for the FTA talks. Both parties will have another round of talk September in Manila.
In a meeting with Sin Chew Daily editors Thursday (August 23rd), Rommel said other than trade liberalisation, they will also cover the basic issues of investment and competition policy. This will be one of the challenges Malaysia will face.
The meeting was attended by Executive Director of SCMC Rita Sim Sai Hoon, Group Editor-in-Chief of SCMC Siew Nyoke Chow, Deputy Editor-in-Chief of Sin Chew Daily Tay Tian Yan and Chief Editor of Sinchew-i (English) Bob Teoh.
“Malaysia has too many regulations and guidelines which hinders its competitiveness, free market and fair competition. We have to take note of this problem,” Rommel said.
Rommel added EU hopes that the Malaysia technical and non-technical barriers would not be a stumbling block for free trade.
He pointed out that even though Malaysia welcome foreign investments, its domestic market has been protected and foreign direct investments in 1980s and 1990s were mainly in the export sector.
“We want fair competition, otherwise, free trade is meaningless to entrepreneurs and investors,” he continued.
Regarding the criticisms he received after commented on Malaysian NEP (New Economic Policy), Rommel stressed that he is not a free public relations officer for Malaysia. He represents policies of EU and that his job was also to strengthen the relationship between EU and Malaysia.
Rommel is completing his four-year tour of duty soon but stressed that he is not being recalled to the EU Headquarters in Brussels for his controversial comments on the country’s New Economic Policy.
