20100301 1046 Malaysian Economic News.

Buoyed by the 4.5% growth in 4Q09, the Government sees a 6.0% growth for this year. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said while the Government had targeted a 5.0% growth for 2010, the 4.5% growth from 4Q09 had given the country's economy great encouragement and confidence.

• "We have studied the projections made by various bodies particularly those from the banking sector and some believe we can even achieve 7.0% growth," he said. “But we will target 6.0%," he added. (The Star)

Malaysia is keen to join the Trans-Pacific Partnership (TPP) but only after consultations and based on certain parameters, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. "We are keen to come on board subject to consultations and certain parameters. The consultation is being held now," he said. (Bernama)

Asean is on track to liberalise another 15 services sub-sectors in health, telecommunications and tourism under the 8th Package of the Asean Free Trade Agreement (AFTA) on Services. The 10-member regional grouping will also improve the offers in 65 sub-sectors under the 7th Package of the agreement which came into effect on 1 Jan this year.

• Under the improved packages, companies in the Asean region can take up 70.0% equity in companies in the liberalised sub-sector in member countries, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. Overall, Asean plans to liberalise a total of 128 services sub-sectors under 11 packages by 2015, when it is expected to create the Asean Economic Community. (Bernama)

Malaysia must not stop talking to important customer nations like Europe to deal with issues that could hurt trade, said former international trade and industry minister Tan Sri Rafidah Aziz. Palm oil is one example where the industry is being criticised for its production methods and its lack of transparency, giving rise to accusations of environment abuse. "Once you stop communicating, they will find other markets and other sources," she said. (BT)

There has been a marked increase in investor confidence among local and foreign investors to invest in various economic sectors in Malaysia since early this year, says Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir. The investors' keen interest was a positive development, signifying that the country's economy was well on the recovery path, he said. (Bernama)

Foreign firms wanting to expand their global reach and intending to penetrate the Asean market should make use of Malaysia as the "gateway" for their investment, says Former International Trade and Industry Minister Tan Sri Rafidah Aziz.

• With the approach of the Asean Economic Community (AEC) or single market in 2015 and implementation of the Asean Free Trade Agreement (AFTA) on Jan 1, 2010, goods and services tariff are well in place, which means "we can tell the world that Malaysia has a big tariff free market. For Malaysia, our biggest trading partner now is Asean as a group, which means we do a lot of business with Asean. The business link, logistics link and trading links are already there, so use us as the gateway to the bigger Asean market," she said. (Bernama)

Building a new economic model will need national efforts as no government, even a strong and united one, can build it alone, says the Director-general of Public Service Department (PSD) Tan Sri Ismail Adam. The Public Service Department (PSD) has taken great efforts to ensure the success of the new economic model (NEM) by hiring those with high-level thinking and knowledge, Ismail said.

• "For the new economic model to be successful, it must be a combination of efforts from the private sector, the community at large and the public sector that is the public servant," he said. (Bernama)