Report Praises Malaysia's Trade and Investment Progress - Highlights Malaysian Flair for Innovation in new Export Industries
An independent APEC report has stated that Malaysia deserves "high credit" for its actions to achieve APEC's free trade and investment goals. The report also described Malaysian policy makers as "demonstrating considerable flair for policy innovation" in their pursuit of new export industries.
The 116 page "IAP Study Report of Malaysia" is a review of the implementation of Malaysia's Individual Action Plan (IAP) to achieve APEC's free trade and investment goals.
The report was compiled by Mr. William A. Dymond, Senior Executive Fellow from the Centre for Trade Policy and Law at Carleton University in Canada and covers thirteen specific issue areas relating to the realization of APEC's goals.
In the report Mr. Dymond highlighted Malaysia's cross-sectoral approach to meeting development goals in areas such as tariffs, service industries and government procurement.
"Malaysia's fulfillment of the APEC goals flows from its national objectives of sustained political and social stability, balanced economic growth among regions and ethnic groups and the eradication of poverty," Mr. Dymond stated in the report.
"These policies are enabling Malaysia to meet the challenges of sustainable economic development in an environment of rapidly changing rules of global trade, resources flows and competition arising from globalization.
"Malaysia's readiness to embrace the challenge of structural adjustment creates the foundation for sustainable broad-based economic development."
In highlighting the skills of policy makers in developing growth sectors, the report noted Malaysia's reputation for the setting of standards to foster export industries.
"The development of measurement tools, for example, regarding the knowledge-based economy adds rigor and ambition to innovation policy making."
The report also praised Malaysian policies to promote and incorporate the development of local entrepreneurs into the national and global economies.
Mr. Dymond thanked Malaysian authorities for both their collaboration during the visit by the IAP Review team and for the comprehensive replies to questions raised by other economies.
Excerpts from each of the thirteen areas of assessment are now available by clicking here. The full report will be available on the e-IAP website once it has been presented to APEC Senior Officials in Seoul on March 4.
IAPs serve as a roadmap for APEC economies to achieve the Bogor Goals of free and open trade and investment in the APEC region. Agreed in Bogor, Indonesia, in 1994, the target for achieving the Bogor Goals is 2010 for industrialized economies and 2020 for developing economies. Seven APEC Member Economies are having their IAPs' reviewed at the current round of APEC meetings in Korea. This process involves a presentation by the Independent Expert to a meeting of Member Economies followed by an opportunity for these economies to question the economy under review on the details of their IAP. The review of Malaysia's IAP took place in Seoul this morning.