Malaysian-TPP Business Council Of America Inaugurated

By Manik Mehta NEW YORK, Aug 26 (Bernama) -- The Malaysian-TPP Business Council of America (MTPPBCA) was officially inaugurated on Thursday in the Flushing District of New York. Flushing has a large constituency of Chinese diaspora, including from Malaysia, and is often called "New York's second Chinatown," the first being in downtown Manhattan. An objective behind the Council's creation is to correct misconceptions about the Trans-Pacific Partnership Agreement (TPP). But the TPP is merely one aspect of the Council's work. It has a wider mandate in focusing on the overall Malaysian interest in increasing trade, business and investment opportunities with the United States. The Council will also complement the work of the New York offices of the Malaysian External Trade Development Corporation and the Malaysia Investment Development Authority. The idea for the Council's creation came from Datuk Seri Ong Ka Chuan, the second Minister of International Trade and Industry, working with the chairman of the Malaysian Chinese Association of America (MCA), Kim Bong. He is a New York-based Malaysian businessman who is also a community leader of the Malaysian diaspora in the tristate area of New York, New Jersey and Connecticut. Goh Boon Huat, Executive Secretary of the MCA National Youth who was invited to participate in the inauguration of the MTPPBCA, recalled that Ki m Bong flew to Malaysia to discuss the Council's creation with Ong. "The Council, thanks to its extensive reach and contacts among the various ethnic communities in the United States, particularly on the east coast, can provide an invaluable service to trade and investment promotion," he said. He also said the Council will serve as a platform for achieving greater business and trade, and also play an important role in attracting foreign direct investments. Goh was very impressed with the large turnout of business people at the inauguration. "Kim Bong was able to bring these business people together. Malaysia offers good opportunities for investment and business, including in logistics and e-Commerce, which we would like to promote with the US," he added. The inauguration was attended by the troika of heads of Malaysian government offices in New York, namely Shahrulmiza Zakaria (Matrade), Lee Yong Ming (Mida) and Ahmad Johanif Mohd Ali (Tourism Malaysia), who highlighted the opportunities and attractions of Malaysia in fields such as trade and business, investment and tourism. Meanwhile, Ong in a message to Kim Bong on the inauguration of the Council, pointed out that in recent years, the bilateral relationship between Malaysia and the US had strengthened on a whole variety of fronts, including in areas of trade and investment. "While Malaysia has received global recognition in a number of areas from various international institutions and establishments, the presence of US companies as one of our top investors and trading partners, signals great confidence (in) Malaysia's business climate," he said. In congratulating Kim Bong and his team for the Council's creation, the Minister expressed hope that the MTPPBCA will facilitate the growing importance of Malaysia's trade and investment relations, in contributing greatly to economic growth and prosperity. Bilateral trade between Malaysia and the US in the first six months of 2016 touched US$16.78 billion (RM67.45 billion). US approved investment projects (in manufacturing) in Malaysia amounted to US$82.49 million (RM331.41 million) in the first quarter of this year. --BERNAMA