Monday September 10, 2012

Malaysia to host Apec Summit in 2020

VLADIVOSTOK (Eastern Russia): Malaysia is set to host the Asia-Pacific Economic Cooperation leaders' summit in 2020, some 22 years after doing so for the first time.

Prime Minister Datuk Seri Najib Tun Razak confirmed that Malaysia is scheduled to host the meeting then.

“It happens to be our turn but it's a very auspicious year for us,” he said to the Malaysian media covering the summit here yesterday.

The summit will be held in Bali, Indonesia, next year; it will be in China in 2014, while the Philippines and Peru will host it in 2015 and 2016, respectively.

Malaysia has accepted the invitation from the United States to host the Global Entrepreneur Summit next year.

“I have accepted the offer to host this summit during my bilateral meeting with US Secretary of State Hillary Clinton.”

One for the album: Najib and other world leaders smiling for the camera at the Apec summit in Russky Island. The leaders are (from left) Philippines President Benigno Aquino III, Japanese Prime Minister Yoshihiko Noda, US Secretary of State Hillary Clinton, Taiwanese Special Envoy Lien Chan and Hong Kong Financial Secretary John Tsang. — Bernama

Meanwhile, Malaysia and the United States wants the Trans-Pacific Partnership (TPP) negotiations to be concluded by the end of next year.

Najib said the two countries agreed that the TPP agenda needed to be concluded quickly, although there were some outstanding issues.

This was discussed with Clinton when she called on Najib on the sidelines of the Apec summit yesterday.

The TPP consist of 11 countries. Besides Malaysia and the United States, the other members are Australia, Brunei, Chile, New Zealand, Peru, Singapore, Vietnam, Canada and Mexico. Canada and Mexico were accepted into the TPP three days ago at an informal meeting among its ministers.

The TPP is a grouping of countries within Apec that share a common goal of speeding up trade liberalisation, reducing protectionist policies and coming up with “next-generation” trade agreements which are over and above Free Trade Agreements.

In a statement issued yesterday, the leaders reiterated the need for such forward-thinking agreements that will promote trade and investments.

“The conclusion of the TPP will provide a promising pathway for free trade across the Asia-Pacific, support the creation and retention of jobs in our markets, boost our competitiveness, promote economic growth and advance our development goals,” the statement read.

The leaders also have agreed that further negotiations be held with other countries who want to join the TPP.

Clinton, in her meeting with Najib, also expressed US support for the Global Movement of Moderates which Najib had expounded more than two years ago in Oxford, England.

“She even quoted from my speech there and expressed her government's keen interest in the success of the movement,” said the Prime Minister.

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