Malaysia to reject APEC trade pact

Malaysia to reject APEC trade pact

KUALA LUMPUR (AFP): Malaysia yesterday reasserted its
objection to a plan for an APEC free trade pact by 2020, saying
that while Australia had the right to push for it, Kuala Lumpur
had the right to reject it.

"It is their right to push... We also have the right to
reject," said Prime Minister Mahathir Mohamad, reacting to
reports that his Australian counterpart Paul Keating was pushing
hard for the ambitious deal at the Asia Pacific Economic
Cooperation (APEC) forum meeting in Bogor, Indonesia, on Nov. 15.

Mahathir, who locked horns with Keating after being called a
recalcitrant by the Australian for shunning the APEC summit in
Seattle last year, said this time he would attend the meeting to
reaffirm Malaysia's stance.

Analysts believe that Malaysia would prefer advancing its idea
for an economic caucus for East Asia, as it has repeatedly
opposed moves to institutionalize APEC, saying it was meant to
remain a loose economic forum.

The Mahathir-initiated East Asia Economic Caucus (EAEC),
aiming to be a loose consultative forum for East Asian economies,
has long been stalled by U.S. objections to what it sees as a new
trade bloc.

Malaysia's International Trade and Industry Minister Rafidah
Aziz said on Tuesday that APEC had no mandate to draw up a
deadline for the creation of a free trade zone.

"We have already stated our stand earlier. I have no mandate
to change this stand," Mahathir was reported as saying by the
Bernama news agency.

Mahathir said he was not expected to meet separately with U.S.
President Bill Clinton while in Bogor.

"In Seattle the last time around, he (Clinton) was the host so
he met each and everyone. But this time we will be meeting him in
his capacity as a fellow participant," Mahathir said.

APEC, formed in 1989, groups the six members of the
Association of Southeast Asian Nations -- Brunei, Indonesia,
Malaysia, the Philippines, Singapore and Thailand -- and
Australia, Canada, China, Hong Kong, Japan, South Korea, Mexico,
New Zealand, Papua New Guinea, Taiwan and the United States.