Mustapa: Asean envoys to discuss state of economic ties with US

KUALA LUMPUR: International Trade and Industry Minister Datuk Seri Mustapa Mohamed has recommended that all Asean ambassadors to the United States discuss the current state of US-Asean economic relations in the next round of their monthly meeting to formulate a collective policy response.
The recommendation by the minister entails a review of all the economic measures announced and implemented by the US administration, an analysis of the implications of these policies on Asean trade, as well as to prepare a collective policy response by Asean on the new policies introduced by the Trump administration.
Mustapa told reporters at the ministry's media briefing to commemorate Asean's 50th anniversary that he made the proposal at the Asean Economic Ministers Retreat held in Manila, the Philippines, recently, which was accepted by his counterparts.
"In light of the recent developments, Asean remains open to the United States and values the economic ties between the regional grouping and the country,” Mustapa said.

He said despite the uncertainty created by the US administration, Asean should continue to promote free and fair trade and cooperate in building an open world economy, which will ensure growth and sustainability in the region.
The US is one of Asean’s major trading partners, with an export value of more than US$100 billion (RM445 billion) annually.
On the status of the Trans Pacific Partnership Agreement, Mustapa said the agreement is less attractive to Malaysia now with the withdrawal of the US. “We decided to participate in the agreement because of the US, among other reasons, but since it has pulled out, there isn’t much interest for us."

The matter, however, is to be further discussed at the Asia-Pacific Economic Cooperation forum meeting to be held in Vietnam in May.
Mustapa said Asean is committed to move forward with Regional Comprehensive Economic Partnership (RCEP) which is one of its main priorities.
The RCEP is a trade deal under negotiation involving the 10 member countries of Asean, Australia, China, India, Japan, South Korea and New Zealand.