Bernama.com (Malaysian National News Agency), 8 March, 2007
JMEPA Benefits Malaysia And Japan - Najib
From Mohd Haikal Isa
OSAKA (Japan), March 8 (Bernama) -- The Japan-Malaysia Economic Partnership Agreement (JMEPA) signed last year has started to show results in the increasing volume of trade between the two countries and investment by their companies.
Malaysian Deputy Prime Minister Datuk Seri Najib Tun Razak, who was ending his four-day working visit to Japan here Thursday, said the agreement has benefited both countries.
"The results can be seen from the volume of trade between the two countries which has increased 10 percent last year while Japan has emerged as the biggest investor in Malaysia with a total investment of over US$1.2 billion," he told Malaysian reporters covering the visit.
The trade volume between Malaysia and Japan, its third biggest trade partner, rose to US$32 billion last year, compared with US$29 billion in 2006.
During his visit which started on Monday, Najib, who is also the Defence Minister, met with Japan's Prime Minister Shinzo Abe, Foreign Minister Taro Aso and Defence Minister Fumio Kyuma.
He also met with members of the Japan-Malaysia Economic Cooperation Association (JAMECA) and spoke at luncheon meetings attended by representatives of major Japanese companies in Tokyo and Osaka.
Najib said the JMEPA was wider in scope compared to a free trade agreement (FTA) as it was aimed at enhancing economic partnership between the two countries.
"The JMEPA has provided various economic opportunities for companies of both countries," he said.
Najib said the JMEPA also required Japanese companies to transfer their technology in the automotive industry to their Malaysian partners and the process has started.
He said Malaysia was also keen to attract more Japanese companies involved in information and communications technology (ICT) and biotechnology to work with partners in Malaysia.
On his meetings with Japanese political and business leaders during the four-day visit, Najib said their sentiment towards Malaysia was very positive.
Concerning his meeting with Abe, Najib said the Japanese Prime Minister wanted the existing relationship between the two countries to be strengthened.
-- BERNAMA
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