U.S. emphasizes its support for investment in Asia<\/p>\n
KUALA LUMPUR (AFP): U.S. Secretary of State Warren Christopher
\nmet here yesterday with U.S. business people who expressed
\nconcerns about investing in Malaysia and Vietnam, Christopher's
\nnext stop on his Asian tour.<\/p>\n
\"The Clinton administration is determined to advance the
\ninterests of American exporters and investors, especially in
\nfast-growing markets like Malaysia,\" promised Christopher, making
\na 24-visit to Kuala Lumpur.<\/p>\n
Some of business people expressed fears that budget cuts under
\nPresident Bill Clinton could reduce the ability of U.S. offices
\nin Asia to assist trade.<\/p>\n
\"Japanese embassies are more commercially-oriented,\" said
\nRoger Bertelson, vice-president of Motorola Malaysia.<\/p>\n
He said that in Vietnam, the long U.S. embargo lifted only
\nthis year had proved \"an obvious disadvantage\" to U.S. investors
\nby delaying their entry into the market while French and German
\ncompetitors moved in.<\/p>\n
Sunil Sreenivasan, chief executive of Citibank Malaysia, said
\namong would-be U.S. investors in Vietnam \"there is a lot of
\ncaution.\"<\/p>\n
\"People are not comfortable with the infrastructure\" in
\nVietnam, where communications and power supplies remain
\nuncertain, he said.<\/p>\n
The question of granting Malaysia preferential tariffs was
\ntouched on only lightly, with Malaysian authorities favoring a
\ngradual approach.<\/p>\n
Before flying on to Vietnam today, Christopher was to discuss
\nBosnia with Prime Minister Mahathir Muhammad and Foreign Minister
\nAbdullah Badawi, and to sign a new extradition treaty.<\/p>\n
Christopher reminded the businessmen that Malaysia is the
\nUnited States' 13th trading partner, with bilateral exchanges
\nworth US$20 billion per year and growing by eight per cent a
\nyear.<\/p>\n
U.S. companies are Malaysia's biggest source of foreign
\ninvestment, with interests worth some $9 billion, mainly in the
\noil, natural gas and electronic components industries.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/us-emphasizes-its-support-for-investment-in-asia-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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