00:00There are several points from the session of the parliament today.
00:03In the US, we say that the objective is not only to reduce, but we want to go to zero.
00:14If possible, there is no price in our country.
00:18And in our opinion, we will continue to reduce the objective to reduce.
00:27So, the objective is to make sure that we are not to reduce, especially in the sector-sector that is important for our country.
00:38So, the US is correct?
00:40They agree if there are issues regarding issues that they can do.
00:47In negotiations, there is a win and win.
00:51We have to give and take.
00:53We have to reciprocal.
00:55And the first part is to talk about scope and issues that need to be discussed.
01:03And I want to make a difference here.
01:05We have to sign the NDA.
01:08So, Puan Masura, as our chief negotiator,
01:13we will start this evening with USTR.
01:22So, Puan Masura, what are Washington's demands?
01:27Washington demands, I think there are four areas.
01:29Number one is to talk about the trade imbalance.
01:33From the formula, you can see that the trade imbalance to them, which means trade deficit,
01:38is not something that they look favourably to.
01:41And Malaysia, based on their data, has a trade deficit, or they have a trade deficit,
01:47with Malaysia amounting to $25 billion.
01:50Secondly, on the report, the NTE, the issue by USTR,
01:55talks about the non-tariff barriers.
01:57So, on non-tariff barriers, there are many issues that they feel can be improved.
02:02And these are some of the things which they wanted us to look at.
02:06And today, in Parliament, we discussed, for example, the issue of halal.
02:10It's not about the halal certification, but the process itself.
02:13Why it's taking longer than other certifications, for example.
02:17And that's deemed as non-tariff barrier.
02:20The third one is issue about safeguarding technology, technology security.
02:25This is, again, I think, been widely mentioned by the Trump administration on the importance of
02:32US technology not being used by parties which they don't approve to.
02:39That's why they have this export restriction on chips, for example.
02:42So, whatever chips that comes to Malaysia, or to Indonesia, or even Singapore,
02:49they want to make sure that countries like Malaysia, Singapore, or Indonesia
02:53do not allow those chips to be shipped or smuggled to other nations.
02:59Similarly, even the usage. So, it's about technology safeguarding.
03:02And finally, I think what's also important is really when you look at the investment itself, right?
03:10So, they want to see that Malaysia, we do invest in areas where they want us to support their industries.
03:21In this case, we are. We are investing a lot.
03:24Today, the Prime Minister mentioned, even the GLCs alone, the government-linked investment company,
03:30GLICs alone, today has invested close to 45 billion US dollars into the bond and equity markets in the United States.
03:40Is transshipment one of the issues as well?
03:43Yes, transshipment is one issue. That's why today there's always been an issue.
03:51That's why the imposition on solar, for example.
03:55So, today, we have made an announcement just now that any issuance of certificate of origin for products that is going to the United States
04:05are no longer under the domain of the chambers.
04:10We've given authority to the chambers before this, but now is under the authority of BT.
04:18Because under the FTA, we have the authority, but because US and Malaysia, we do not have an FTA,
04:24so that's why we allowed the chambers to issue.
04:28But given the cases that have been widely reported, and we've done some initial investigation,
04:34we feel we have to do this, and we have to audit and do more checkings.
04:39And in the meantime, during this period, when investigation is ongoing, we have to take back that power.
04:45Is there a value to the alleged transshipment?
04:48Well, we're still working on that.
04:50When do you think the Chinese startup may...?
04:55May the 19th.
04:56Yeah.
04:57It will...
04:58Either May 19th or 20th, it will be done virtually.
05:01Or virtually.
05:02Virtually.
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05:32Virtually.
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