We the people and leaders of Malaysia are supportive of the initiatives and goals of the Asia Pacific Economic Cooperation Forum (APEC). It is only through cooperation and planning that the citizens of the Pacific Rim will all prosper in both the short and long-term. The issues of central focus, intellectual property rights and sustainable development, are areas of great interest to Malaysia. We intend to highlight our commitment to observing intellectual property rights in principal and in any fashion developed within APEC. We will demonstrate to investors and vendors that their intellectual property is safe in Malaysia. Sustainable development is equally of great importance to Malaysia. It is our goal to develop industry in a manner that will allow growth and prosperity with a careful eye on the condition of our environment.

In addition to the areas of intellectual property and sustainable development, Malaysia would like to make a statement concerning additional areas of economic reform and development. In reaction to the Asian financial crisis Malaysia will make moves to improve its banking system to attract foreign investment and improve investor confidence by the adoption of transparent accounting methods of an international standard. These measures will also take into account procedures necessary to solidify our banking system to stave off another financial crisis. Malaysia plans to pursue its pre-crisis objectives of sustainable growth with low inflation while developing capital markets and efficiently mobilizing financial resources to finance investment activities. It is our hope to create a generally friendly environment for business and investment from any party wishing to develop operations in Malaysia.

Malaysia enacted policies in affected areas that are continually assessed and adjusted to further strengthen our economy and financial system. Unlike our desire to have free and open markets Malaysia temporarily put in place capital controls to protect the Ringgit. We are now removing those controls in hopes of fully rejoining the world market. We are determined in our efforts to promote and achieve sustainable economic growth. To this end we will ensure that markets for goods, services, and capital continue to be efficient and enhance the prospects of the poor and the vulnerable segments of our society that continue to carry the greatest burden from the financial crisis.

In order to demonstrate our dedication to the principals of market liberalization and capitalism we will highlight some of our past positions regarding earlier APEC issues through a description of previous Individual Action Plans (IAP). In 1996 Malaysia took steps that reflected the government’s strategy of trade liberalization and economic growth. In particular the areas of market access to include the service sector. Malaysia made a commitment to open all areas of manufacturing to foreign direct investment. In search of foreign investment Malaysia took actions to become a "one stop investment center." Even before the financial crisis there were strong efforts to align with international standardization. Finally Malaysia took action to update customs procedures that will facilitate trade. Another important issue surrounding Malaysia’s IAP is the 1997 effort to "to enhance the transparency of its investment regime." This action alone demonstrates Malaysia’s long-term commitment to entering the global market of finance and capital. To move trade along even further we established mutual recognition arrangements (MRAs) with numerous economies and would like to further develop in this area. The 1998 IAP reflected a strong Malaysian desire to open itself to business and create a generally friendly environment for all types of commerce. The 1999 IAP illustrates Malaysia’s commitment to free-market standards and APEC agreements such as deregulation and privatization actions. Malaysia has made a strong commitment to an environment of deregulation that will aid in long-term and consistent development.

Along with domestic measures we are fully aware of the need for international cooperation in order to fully realize the potentials from proper protection of Intellectual Property. To assure Malaysia’s trade relations continue smoothly and effectively with other member economies, we work in conjunction with the Intellectual Property Rights Experts Group of APEC. Involvement in such a group allows us to stay abreast of recent developments and stay in the forefront of IP in the Pacific Rim.

Current issues developing in the IPEG include the implementation of the TRIPS agreement as well as technical cooperation and enforcement of IPR. The TRIPS (Trade Related Aspects of Intellectual Property Rights) agreement, administered by the World Trade Organization (WTO), sets out general provisions and basic principles needed for the protection of intellectual property. The IPEG encourages the member economies of APEC to implement the TRIPS agreement and submit their latest updates to the group for other member economies to research. As a member of the WTO, Malaysia has been working diligently for the past five years to fully implement the provisions of TRIPS. We have invested many resources into the study and implementation of this agreement. Several working groups have found that the agreement would stimulate much cross-border trade and investment activities as well as technology transfer. In order to ensure positive results, we are always willing to sanction new agreements and procedures to stay in line with global development. Malaysia is currently taking action to ignite free flow of ideas and technology by reforming Malaysian trademark, copyright and patent law. We recognize the vital need to meet a balance between economic growth and sound environmental policies and hope to take full advantage of industrial technology to advance the living standard of all our people while allowing and aiding economic growth.

Malaysia is habitually working to maintain and update all aspects of IPR and its enforcement. We encourage new and innovative ideas through appropriate legislation and are doing our best to protect those already developed. As we maximize the effectiveness of the patent system, Malaysia hopes to promote research, development, and dissemination of IP and technology information.

Malaysia’s specific position on sustainable development is aimed at maintaining a prosperous Asia-Pacific region built on development and application of industrial science. Our goal is to use technology that improves quality of life while safeguarding the natural environment thus achieving sustainable development. As a result of the Asian economic crisis, Malaysia has suffered a considerable economic loss. However, due to our rapid development and increased number of industrial recovery programs, we are on our way to healthy revitalization.

Efforts toward sustainable development are important in that they aim at providing a healthy and friendly business environment with an important focus on improved standards of living and environmental needs. The requirement to protect the environment should be viewed in a balanced perspective and due emphasis be accorded to promoting economic growth and sustainable development, including eradication of poverty, meeting basic needs, and enhancing the quality of life. The responsibility for ensuring a better environment should be equitably shared and the ability of developing nations to respond should be taken into account. In order to achieve sustainable development, economic growth is a compelling necessity. Sustainable development implies the incorporation of environmental concerns into economic planning and policies. In addition and in accordance with the Environmental Quality Act of 1974, Malaysia has taken on a formalized and structured stance on has environmental management. To guarantee this, Malaysia is an active member of the Industrial Science and Technology Working Group of APEC and has instituted programs such as Vision 2020, which projects the environmental policy goals of Malaysia for the year 2020.

Malaysia’s capacity for development has grown immensely as a result of Malaysia’s active participation in multilateral and regional trade fora such as the World Trade Organization and Asia-Pacific Economic Cooperation (APEC). In fact, Malaysia conducts most of its trade with other APEC member economies. In exports Malaysia has sizeable trade relationships with Singapore (23.3%), USA (14.8%), Japan (13.2%) and Thailand (3.7%). In the arena of imports Malaysia enjoys strong relations with Japan (25.9%), Singapore (20.6%), USA (15.7%), and Australia (2.6%). As a part of the Vision 2020 project, Malaysia aims at being a developed and industrialized country. Malaysia pledges efforts to strengthen social safety nets, financial systems, trade and investment flows, the science and technology base, human resource development, and economic infastructural building. Malaysia’s impressive growth patterns are instrumental in attracting foreign investors and will continue to exercise sustained growth and development towards the goal of becoming an industrialized nation.