Najib, Trump pledge to nurture economic ties, remove trade barriers

WASHINGTON: Prime Minister Datuk Seri Najib Abdul Razak and US President Donald J. Trump have pledged to nurture the economic ties between the two nations to create jobs and opportunities, as well as remove trade barriers in key sectors.
The two countries also recognised the importance of regular discussions under the Trade and Investment Framework Agreement to strengthen the trade relationship by removing barriers in key sectors, said a joint statement for enhancing the comprehensive partnership between the US and Malaysia.
The pledge reflects a longstanding and substantial trade relations, it said.
“Both sides announced their intent to pursue trade and investment opportunities in the transportation and energy sectors and to address the bilateral trade imbalance,” said the statement issued following talks between the two leaders at the White House during Najib’s three-day working visit to the US.
Besides a one-on-one meeting at the Oval Office, both leaders also presided over an expanded meeting between the US and Malaysian delegations, comprising cabinet members and senior government officials from both sides.
The joint statement also mentioned that both leaders welcomed the signing of a Memorandum of Understanding (MoU) between Malaysia Airlines Bhd and The Boeing Company for eight new Boeing 787-9 Dreamliners, purchase rights for eight additional 737 MAX airplanes, and maintenance for the national carrier’s fleet, with a potential total value of US$4 billion (US$1=RM4.20).
Trump welcomed the probability of additional purchases of Boeing aircraft in the future.
“Both leaders welcomed the involvement of the US private sector in the development of the Kuala Lumpur-Singapore High-Speed Rail project.”
The two countries also committed to review regulatory frameworks with the aim of facilitating investment in their respective economies, it said.
Trump hosted Najib at the White House to strengthen the Comprehensive Partnership between the two countries as they marked the 60th anniversary of bilateral relations.
Both nations share a long history of close cooperation built on economic ties and mutual security interests. Besides economic and trade, the two leaders also pledged to continue building upon that relationship through enhanced diplomatic, security and people-to-people ties. — Bernama