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Saturday November 21, 2009

Najib works his charm at Apec leaders meeting and garners top marks


SINGAPORE: It is barely eight months since Datuk Seri Najib Tun Razak rose to the helm of the Malaysian government, but the country’s sixth Prime Minister has already stamped his mark on the international stage with his good grasp of international and economic issues.

Many described him as the “Star at Apec.”

At the just concluded Asia Pacific Economic Cooperation (Apec) leaders meeting in Singapore, not only his bold moves to liberalise the Malaysian economy impressed many, Najib also made a strong impact with the business community during the business dialogues.

At the Apec CEO Summit attended by 1,500 top international and regional business leaders, Brunei’s Economic Development Board chairman Datuk Paduka Timothy Ong, chairing the dialogue, remarked that Najib had “scored high marks with the delegates”.

“His presentation was one of quality, confidence and he was a very skilful performer,” Ong said after the prime minister presented his views at the dialogue themed “Is the Global Crisis Really Over?”

“He had a lovely sense of humour,” Ong said of the 56-year-old British-educated Najib, the son of Malaysia’s second premier Tun Abdul Razak Hussein, who was attending the Apec meet for the first time as Prime Minister.

At one stage during the dialogue, one participant asked Najib what made him think that his stimulus package to revive the Malaysian economy would work.

Reflecting his confident demeanour and his no nonsense approach, the soft spoken Najib said emphatically: “Well, it had better work. Otherwise, you won’t see me around for too long.”

His spontaneous reply drew loud laughter from the hundreds of people comprising top business leaders and captains of industry among the packed audience at the Suntec International Exhibition and Convention Centre.

The Asia Pacific Economic Cooperation Council co-chairman and US East-West Centre president Dr Charles Morrison said Najib clearly made a strong impression on the audience.

Morrison said Najib took questions and answered them with personal warmth and humour.

When Ong asked all the panellists to end their presentation with a short statement on how to mend the global economy, Najib succinctly said:

“Externally, free trade, more free trade, and domestically, a new economic model.”

Najib had summed it well as when the leaders of the 21-member Asia Pacific economies ended their meeting, the grouping declared to achieve free trade and open markets, adding that there was a need for new economic growth model to take the region into the 21st century global economy.

Since taking over from Tun Abdullah Ahmad Badawi, the fifth Prime Minister, Najib has been on the radar screens of the business community, both in Malaysia and internationally.

The community is watching closely Najib’s bold and far reaching economic reforms liberalising a wide range of sectors of the domestic economy, issuing new banking licences for foreigners and relaxing regulations with respect to Bumiputra equity, opening up Malaysia’s market and providing further boost to the economy.

Malaysia, which relies heavily on exports, has been hard hit by the global financial crisis, and is trying to pull itself out of the economic doldrums. The government has predicted that the country’s growth rate this year to be around 2% to 3%.

Najib, who is also Finance Minister, told participants of the Apec dialogue that he would push hard to ensure Malaysia achieved a 5% economic growth next year, 2% more than the earlier expectation by the government.

He said his administration would unveil a new economic model for Malaysia by year end, one that would identify new sources of growth to ensure the country achieved a growth rate higher than 3% post crisis.

Malaysia’s fortitude in promoting free trade during Apec was evident when the Prime Minister and his two other ministers stressed the importance of free and fair trade.

Malaysia’s position was made clear to the US leaders during bilateral meetings with Trade Representative Ron Kirk and Treasury Secretary Timothy Geithner.

The US had been blamed for stalling for over a year the Free Trade Agreement (FTA) negotiations with Malaysia, and now is seen as abandoning the FTA for other loose economic alliances in the region.

Najib frankly told the audience that he had been saying it privately and wanted to state it openly that what he liked about President Bush was his “very pro-free trade” policy.

“I hope the same message will be repeated in Singapore and the leaders will see to it that the Doha Round is completed next year,” said Najib.

The Prime Minister demonstrated his strong grasp of the economy and international trade, adding that the old paradigm of “manufacture in the East, consume in the West” that worked for Malaysia for many years was no longer practical.

US President Barack Obama praised Malaysia and acknowledged its role in tackling terrorism as the intermediary in resolving the conflict in Southern Philippines, maintaining security in the Straits of Malacca and checking human trafficking.

All in all, Malaysia looks set to head back to the forefront, with Najib providing a fresh impetus to the country’s leadership with his brave and bold moves. Malaysia will definitely be on the radar in the international arena.

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