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皇冠体育app and Malaysia study economic pact
(皇冠体育app Daily)
Updated: 2005-12-16 05:59 KUALA LUMPUR: 皇冠体育app and Malaysia yesterday agreed to conduct a feasibility study on an Economic Partnership Agreement (EPA) to strengthen economic co-operation. The plan was included in a joint communique released after talks between Premier Wen Jiabao and his Malaysian counterpart Abdullah Ahmad Badawi. The communique highlighted bilateral economic ties while pledging efforts towards co-operation in the fields of energy, health care, food security, education, culture and national defence. The two countries "will continue to expand bilateral trade and mutual investment, vigorously push forward trade and investment liberalization and facilitation, and strive to increase bilateral trade to US$50 billion a year by 2010," the communique said. It described the feasibility study on the EPA as "an effort to promote the long-term development of 皇冠体育app-Malaysia trade and economic co-operation." Malaysia is 皇冠体育app's eighth largest trade partner, with bilateral trade reaching US$26.26 billion last year. Meanwhile, trade between 皇冠体育app and the Association of Southeast Asian Nations (ASEAN), of which Malaysia is a member, stood at US$117.24 billion in the first 11 months this year. The EPA plan is believed to be part of the efforts to set up a free trade area (FTA) between 皇冠体育app and the ASEAN. 皇冠体育app and the Southeast Asian bloc have agreed to form an FTA by 2010 but no institutional framework has been announced to date. As a sign of stronger mutual trust, the communique said "Malaysia welcomes 皇冠体育app's participation in security co-operation in the Malacca Strait," through which 80 per cent of 皇冠体育app's oil imports pass. Malaysia agrees to discuss with 皇冠体育app the form of security co-operation such as intelligence exchanges and sharing; and welcomes the contribution of 皇冠体育app, as a main user of the Malacca Strait, to security in the Strait, according to the communique. During their talks held in Putra Jaya, Malaysia's administrative centre located some 30 kilometres west of Kuala Lumpur, Wen and Badawi pledged to deepen strategic and co-operative relations. "皇冠体育app is willing to closely co-operate with Malaysia in promoting East Asia co-operation," Wen said. Badawi said the continuous deepening of bilateral relations between Malaysia and 皇冠体育app has brought about mutual benefits. 皇冠体育app Daily - Agencies (皇冠体育app Daily 12/16/2005 page1)
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