This week, Trade Ministers from 21 APEC economies will be meeting in the Philippines to discuss APEC’s 2015 priorities as outlined by the host, the Philippines. Under the theme “Building Inclusive Economies, Building a Better World”, discussions will focus on two of the four priorities, which are trade-related, i.e., “Enhancing the Regional Economic Integration” and “Fostering SMEs’ Participation in Regional and Global Markets”.  The other two priorities are “Investing in Human Capital Development” and “Building Sustainable and Resilient Communities”.

In addition, APEC Trade Ministers will also discuss progress under the World Trade Organisation, specifically their contribution towards the WTO 10th Ministerial Conference (MC10) in Nairobi, Kenya this December. This will include their push for the timely implementation of the WTO Trade Facilitation Agreement, and the Post-Bali work programme as key driver towards the eventual conclusion of the Doha Round negotiations.

Trade Ministers are also expected to endorse the terms of reference (TOR) for the “Collective Strategic Study on Issues Related to the Realization of the Free Trade Area of the Asia Pacific (FTAAP)” and the Philippines’ new proposal on “Boracay Action Agenda to Globalize Micro, Small and Medium Enterprises (MSMEs)”.

Malaysia views the FTAAP study as an avenue for APEC to undertake a comprehensive assessment of the readiness of economies to undertake this initiative, as well as capacity building that would be required if economies are to benefit from the FTAAP. Malaysia will be participating in the study to ensure our strategic interests are taken on board.  

The Boracay Action Agenda to Globalize MSMEs will build on APEC’s extensive work on MSMEs. It will further harness the vast opportunities for small enterprises to participate more significantly in global trade, including through integration in the global value chains.   Malaysia is currently the co-sector lead together with the Philippines for the integration of SMEs in the automotive sector.

Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry will be attending the 21st APEC Ministers Responsible for Trade (MRT) Meeting in Boracay, Philippines from 23-24 May 2015. Dato’ Sri Mustapa will also hold discussions on bilateral issues with seven APEC Ministers.

Dato’ Sri Mustapa will also be meeting with the Philippines Chambers of Commerce and companies as well as Malaysian companies having presence in the Philippines, on 25 May 2015 in Manila, right after the APEC MRT. The Minister will be accompanied by 24 business representatives from Malaysia who are keen to explore opportunities for trade and investments in the Philippines.

Apart from the meetings in Manila, the Minister will also be meeting with Calabarzon Regional Government to explore opportunities for Malaysian companies. These meetings are aimed at further enhancing Malaysia-Philippines economic ties, strengthening business-to-business collaborations and pave the way for SMEs to tap into the opportunities arising from market opening measures implemented under the ASEAN Economic Community.

APEC economies taking part in the MRT Meeting account for 76.2% of Malaysia’s external trade and 54.6% of foreign direct investment.

 

Ministry of International Trade and Industry, Malaysia
22 May 2015