According to the statement issued by the Ministry of International Trade and Industry of Malaysia, the country will meet its Asean promises for the liberalization of the services segment when it liberalizes 15 new services sub-sector.

While talking to reporters, Minister Mustapa Mohamed said that the expected commencement of the new segments was made after references with the related ministries and the private sector.

While lecturing at the 42nd Asean economic ministers’meeting in Da Nang, he said, “In total, Malaysia will be liberalising a total of 80 sub-sectors under the eigth package which will come into force in January 2011.”

According to the minister, this is done via packages of liberalization under the Asean Framework Agreement for Services.

The minister added that Asean members confronted disputes in liberalising trade in services.

Further, the minister told media persons that overcoming these challenges call for equaling local regulations with regional commitments.

Mr. Mustapa said, “Asean must find this balance and work towards improving the investment environment if it is to remain attractive to foreign direct investment as well as become a leading global production centre.”