Press Releases

Posted February 14:

Malaysia Expects Growth to Outstrip 5% Forecast

Malaysia’s economy is expected to expand this year by more than the official 5 per cent forecast, driven by exports and a pick up in domestic demand. Shafie Mohd Salleh Salleh, deputy finance minister, told a gathering of foreign institutional investors yesterday that fundamentals had strengthened more than expected and growth in 1999 also could be higher than the forecast of 4.3 per cent.

Barring the emergence of any serious development on the external front, real gross domestic product was likely to grow by more than the 5 per cent predicted when the budget was presented in October 1999, he said. “Market analysts are, however, more bullish and place this figure at 6 per cent or higher.” Chase Manhattan Bank forecast 6 per cent GDP growth in 2000 and 6.7 per cent in 2001.

Reuters, Kuala Lumpur

Posted February 23rd

23 February 2000, Malaysia 

Today, in Kuala Lampur, Malaysia hinted at a possible proposal for a motion on Sustainable Development to be brought to the table at the next APEC forum 
on 14 March, 2000. Malaysia maintains a position on Sustainable Development held by many industrializing nations in the Pacific rim; that environmental 
concerns are important and should be worked into the frameworks of economic reform issues as opposed to replacing them. 

22 February 2000, 

Today, in Kuala Lampur, Malaysia's Trade Representative announced that work is proceeding on a standardized IP agreement for APEC member economies. Ideas are being developed and negotiations ongoing. The Malaysian Trade Rep. commented earlier, "We are hoping to see other member economies of APEC interested in creating this new agreement with us for the further advancement of trade within our organization." The benefits of this type of agreement could prove very beneficial to any participating member economies. 

23 February 2000

The Malaysian Foreign Minister today released plans for a proposed APEC development fund. The fund will be a major part of Malaysian efforts in the upcoming APEC summit. Details are forthcoming, but there is some talk that qualification for the fund will be tied to compliance with a rumored agreement on Intellectual Property. 

The fund, which remains nameless, will serve to aide developing nations that want to make progress in economic development. Many smaller nations in APEC would benefit greatly from improved infrastructure and work force training which is a target for the fund. The results will be shared by all nations. Developing nations will grow economically and the larger and stronger nations will benefit from increased exports to those smaller nations. 

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