Malaysia will not bow to pressure from Washington to meet the White House's fast-closing window to push a free trade agreement (FTA) through Congress without amendments, Malaysia's deputy leader said yesterday.
At least five rounds of talks between Malaysia and the US have so far ended in a deadlock, mainly because of a disagreement over the way Kuala Lumpur awards government contracts.
Reports in Malaysia's media yesterday said Washington had all but ruled out a successful conclusion by July -- when US President George W. Bush's fast-track authority expires.
The authority allows Bush to submit a trade deal to Congress for a straight up-or-down vote without amendments. Negotiators must conclude a deal by the end of this month to allow US lawmakers three months to review it and then vote.
"We will not be tied down to any timeframe and we want to look into all details thoroughly before making a decision," Malaysian Deputy Prime Minister Najib Razak said. "The US will not pressure us. Of course, we know the US wants an early resolution but they also understand some issues take time to be finalized."
The two countries are looking at 18 areas in the talks, including industrial goods, customs procedures, intellectual property rights, agriculture, financial services and telecommunications.
Two-way trade between Malaysia and the US totaled US$44 billion in 2005, which officials say will double by 2010 if a free trade pact is signed.
The key obstacle to the negotations is Malaysia's affirmative action program that awards government tenders to Malay-owned firms.
Recently, US Ambassador to Malaysia Christopher LaFleur and US lobby groups have urged Malaysian officials to finish the agreement before Bush's fast-track authority expires.
Taiwan is projected to lose a working-age population of about 6.67 million people in two waves of retirement in the coming years, as the nation confronts accelerating demographic decline and a shortage of younger workers to take their place, the Ministry of the Interior said. Taiwan experienced its largest baby boom between 1958 and 1966, when the population grew by 3.78 million, followed by a second surge of 2.89 million between 1976 and 1982, ministry data showed. In 2023, the first of those baby boom generations — those born in the late 1950s and early 1960s — began to enter retirement, triggering
ECONOMIC BOOST: Should the more than 23 million people eligible for the NT$10,000 handouts spend them the same way as in 2023, GDP could rise 0.5 percent, an official said Universal cash handouts of NT$10,000 (US$330) are to be disbursed late next month at the earliest — including to permanent residents and foreign residents married to Taiwanese — pending legislative approval, the Ministry of Finance said yesterday. The Executive Yuan yesterday approved the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及民生國安韌性特別條例). The NT$550 billion special budget includes NT$236 billion for the cash handouts, plus an additional NT$20 billion set aside as reserve funds, expected to be used to support industries. Handouts might begin one month after the bill is promulgated and would be completed within
NO CHANGE: The TRA makes clear that the US does not consider the status of Taiwan to have been determined by WWII-era documents, a former AIT deputy director said The American Institute in Taiwan’s (AIT) comments that World War-II era documents do not determine Taiwan’s political status accurately conveyed the US’ stance, the US Department of State said. An AIT spokesperson on Saturday said that a Chinese official mischaracterized World War II-era documents as stating that Taiwan was ceded to the China. The remarks from the US’ de facto embassy in Taiwan drew criticism from the Ma Ying-jeou Foundation, whose director said the comments put Taiwan in danger. The Chinese-language United Daily News yesterday reported that a US State Department spokesperson confirmed the AIT’s position. They added that the US would continue to
The National Development Council (NDC) yesterday unveiled details of new regulations that ease restrictions on foreigners working or living in Taiwan, as part of a bid to attract skilled workers from abroad. The regulations, which could go into effect in the first quarter of next year, stem from amendments to the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法) passed by lawmakers on Aug. 29. Students categorized as “overseas compatriots” would be allowed to stay and work in Taiwan in the two years after their graduation without obtaining additional permits, doing away with the evaluation process that is currently required,
RSS