US Congressman Calls For Suspension Of U.S.-Malaysia FTA Talks.
A lawmaker here has called on the administration of President George W Bush to suspend free trade talks with Malaysia in protest against its energy deal with Iran.
Tom Lantos, the head of the US House of Representatives' top foreign affairs panel, described as 'abhorrent' the US$16 billion deal signed in last month between the state-owned National Iranian Oil Co and Malaysia's SKS Group.
'That is why today I am sending a letter to our trade representative, Susan Schwab, requesting that all negotiations between the US and Malaysia on a free trade agreement be suspended until Malaysia renounces this proposed deal,' Lantos told a Congressional hearing.
The US and Malaysia are preparing for a fifth round of negotiations to frame a free trade agreement before Bush's powers to strike free trade deals expire in June.
In his letter to US Trade Representative Schwab, Lantos said the Malaysia-Iran deal was a 'disturbing development that I believe requires swift action by the administration.'
The US Congress recently extended and strengthened the Iran Sanctions Act, requiring sanctions against companies involved in Iranian energy development 'as is potentially the case here,' Lantos said.
The 25-year deal is to develop the Ferdos and Golshan offshore gas fields in southeastern Iran and establish liquefied natural gas (LNG) plants.
Related report from Bernama: Bhatia's Malaysia Visit Under Close Scrutiny By US Politicians
Tom Lantos, the head of the US House of Representatives' top foreign affairs panel, described as 'abhorrent' the US$16 billion deal signed in last month between the state-owned National Iranian Oil Co and Malaysia's SKS Group.
'That is why today I am sending a letter to our trade representative, Susan Schwab, requesting that all negotiations between the US and Malaysia on a free trade agreement be suspended until Malaysia renounces this proposed deal,' Lantos told a Congressional hearing.
The US and Malaysia are preparing for a fifth round of negotiations to frame a free trade agreement before Bush's powers to strike free trade deals expire in June.
In his letter to US Trade Representative Schwab, Lantos said the Malaysia-Iran deal was a 'disturbing development that I believe requires swift action by the administration.'
The US Congress recently extended and strengthened the Iran Sanctions Act, requiring sanctions against companies involved in Iranian energy development 'as is potentially the case here,' Lantos said.
The 25-year deal is to develop the Ferdos and Golshan offshore gas fields in southeastern Iran and establish liquefied natural gas (LNG) plants.
Related report from Bernama: Bhatia's Malaysia Visit Under Close Scrutiny By US Politicians
Labels: Business, Foreign Affairs
posted by The Malaysian. at 2/01/2007 06:27:00 PM
1 Comments:
I don't really know what to say about FTA. My work is in manufacturing for export, I can see many obvious benefits from lower tariff access to the US market. There are also other sectors where FTA compliance could cause problems e.g. access to generic drugs for HIV patients. Judging from Mexico's experience with NAFTA, its a double-edged sword - a lot of good, a lot of bad outcomes.
My main concern is that MITI has been totally opaque on what is Malaysia's negotiating line. Are they giving away the whole farm ?
Malaysian diplomats don't have a good track record with negotiating international agreements - many Senior officers simply cannot manage the complex diplomatic English which is often used in such negotiations.
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