Y.B. Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry will attend the 20th APEC Ministers Responsible for Trade (MRT) Meeting in Qingdao, China from 17 – 18 May 2014.

Ministers will have discussions based on 2014 APEC priorities as outlined by the host, China. The priorities are:

·Advancing Regional Economic Integration;
·Promoting Innovative Development, Economic Reform and Growth; and
·Strengthening Comprehensive Connectivity and Infrastructure Development.

Ministers will also discuss APEC continuing priority on Supporting the Multilateral Trading System and Resisting Protectionism.  Specifically, they will deliberate on issues surrounding the implementation of the Bali Package concluded at the WTO 9th Ministerial Conference in Bali last year, particularly the implementation of the Trade Facilitation Agreement within the agreed time frame.  APEC has been firm in its stance in fighting against protectionism to preserve market openness. The meeting will provide the opportunity for APEC economies to reiterate their commitment to resist protectionism and refrain from taking measures that impact trade and economic recovery.

As a major producer and user of IT-related products, Malaysia is hopeful that APEC economies will continue to further explore ways to bridge the differences towards the conclusion of the Information Technology Agreement (ITA).  Malaysia is committed to conclude the negotiations on ITA as it will benefit the business community and support the Government’s effort to create new jobs in the country.

The Free Trade Area of the Asia Pacific (FTAAP) is one of the deliverables this year and APEC plans to undertake concrete actions with timelines to chart future work on FTAAP. Topics that will be deliberated by Ministers include transparency, roadmap towards FTAAP, targeted capacity building initiatives and the possibility of launching a feasibility study on FTAAP.  Malaysia views that the FTAAP should act as a vehicle to promote deeper economic integration, sustainable growth and inclusive development, where economies can maximize their economic potential, generate wealth and achieve desired societal outcomes.

Ministers will also discuss APEC new initiative to formulate a Strategic Blueprint for Global Value Chains Development (GVC) in the region. Cooperation among APEC economies on GVC will enable developing economies to adopt effective trade facilitation measures and participate in GVC activities regionally and globally. GVC cooperation in APEC should provide the gateway for SMEs to be integrated into the global network and APEC is the right forum to assist SMEs through its specific capacity building initiatives.

Another issue that will be of importance to MRT Ministers is Connectivity, with a special focus on ways to enhance cross-border education and increasing the mobility of students and researchers across the region, as well as on improving the APEC Business Travel Card (ABTC) process for business travelers.  Ministers will also exchange views on new areas such as urbanization, innovative growth and economic reform, and their impacts on APEC overall objectives.

Economies taking part in the MRT Meeting account for 76% of Malaysia’s external trade and 55% of foreign direct investment. Dato’ Sri Mustapa’s participation in the Meeting will enable Malaysia to remain engaged in the APEC process and contribute to initiatives to promote deeper economic integration.

Ministry of International Trade and Industry
Kuala Lumpur, Malaysia
14 May 2014