Malaysia trade minister says free trade deal with US unlikely to meet deadline |
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Thu, 18 Jan 2007 05:32
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KUALA LUMPUR (XFN-ASIA) - Malaysian Trade Minister Rafidah Aziz has said she doubts negotiations for a free trade deal with the United States will meet a July deadline, with talks bogged down in sensitive areas.Washington is racing to conclude negotiations on the free trade agreement (FTA) by the end of March, giving it enough time to present the deal to Congress before the president's fast-track Trade Promotion Authority expires on July 1.US Assistant Trade Representative Barbara Weisel said during the fourth round of talks last week that the two sides were 'within striking distance' of reaching a deal before the deadline.But Rafidah, who has insisted Malaysia is not hostage to Washington's timeline, said in-depth discussions were underway, with differences in areas such as the services sector, investment and state contracts.'If they want to finish by July, I do not see it happening because of so many issues to cover. So they have to get an extension to negotiate if they can,' she was quoted as saying by the state Bernama news agency late yesterday.'July is only a few months away and we are not negotiating every week ... I am not very optimistic,' she added.US President George W Bush's fast-track authority allows for the approval of a trade deal with a simple yes or no vote, and concerns have been raised the newly Democrat-controlled Congress may not renew the authority.Malaysia has yet to decide on a US push to include labor and environmental standards in the deal.Government procurement is also an issue, with the US seeking access for companies to lucrative Malaysian state contracts, which currently favor the country's majority ethnic Malays and indigenous groups.Rafidah reiterated that Malaysia would not compromise the interests of the majority ethnic Malays and flagged differences over investment and services liberalization, as well as negotiating styles.Weisel has said that at least two more rounds are needed to forge the FTA, with the next meeting to be held in Malaysia in February.afp/km
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Malaysian rice farmers, activists, demand halt to free trade talks with US 