Malaysia has warned it will drop free trade talks with the US if it is asked to scrap a multi-billion-dollar gas deal with Iran, a news report said yesterday.
US House of Representatives' Foreign Affairs Committee Chairman Tom Lantos has urged the suspension of negotiations to forge a free trade agreement with Malaysia until it halts a US$16 billion deal to develop gas fields in southern Iran.
The US is working to sanction Iran over what it believes is a program to develop nuclear weapons.
In an angry reaction, Trade Minister Rafidah Aziz told Washington to stay out of Malaysia's affairs and warned the government will not bow to any threats, the Malay-language Utusan Malaysia reported.
"I am ready to advise the government to cancel the FTA discussions immediately because the US doesn't respect the preliminary terms of the discussion," Rafidah told the newspaper.
"Among the preliminary conditions for the FTA talks agreed between Malaysia and the US are that there be no political agenda. The agreement focuses on markets and both countries don't interfere in each other's domestic policies," she said.
Malaysia doesn't need the free trade deal, and Washington is the one pushing for it, she said.
Prime Minister Abdullah Ahmad Badawi said yesterday the US has no right to stop Malaysia from conducting business with any country.
"We are firm on our stand, don't bring any political matters into trade," he was quoted as saying by national news agency Bernama.
Rafidah and other trade officials could not be immediately reached for comment yesterday.
The 25-year project to develop two gas fields in Iran, which has the world's second-largest gas reserves, was signed last month between the state-owned National Iranian Oil Co and Malaysia's SKS Ventures.
The tension over Malaysia's gas deal with Iran comes ahead of a crucial fifth round of talks next week in Sabah State on Borneo, where negotiators will attempt to bridge differences to conclude the pact before a July 1 deadline.
Rafidah said she was confident the FTA talks would proceed.
US-CHINA SUMMIT: MOFA welcomed US reassurance of no change in its Taiwan policy; Trump said he did not comment when Xi talked of opposing independence US President Donald Trump yesterday said he has not made a decision on whether to move forward with a major arms package for Taiwan after hearing concerns about it from Chinese President Xi Jinping (習近平). Trump’s comments on Taiwan came as he flew back to Washington after wrapping up critical talks in which both leaders said important progress was made in stabilizing US-China relations even as deep differences persist between the world’s two biggest powers on Iran and Taiwan. “I will make a determination,” Trump said, adding: “I’ll be making decisions. But, you know, I think the last thing we need right
SECURITY: Taipei presses the US for arms supplies, saying the arms sales are not only a reflection of the US security commitment to Taiwan but also serve as a mutual deterrent against regional threats Taiwan is committed to preserving the cross-strait “status quo” and contributing to regional peace and stability, the Presidential Office said yesterday. “It is an undeniable fact that the Republic of China is a sovereign and independent democratic nation,” Presidential Office spokeswoman Karen Kuo (郭雅慧) reiterated, adding that Beijing has no right to claim sovereignty over Taiwan. The statements came after US President Donald Trump warned against Taiwanese independence. Trump wrapped up a state visit to Beijing on Friday, during which Chinese President Xi Jinping (習近平) had pressed him not to support Taiwan. Taiwan depends heavily on US security backing to deter China from carrying
The subsidiary of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Kumamoto, Japan, turned a profit in the first quarter of this year, marking the first time the first fab of the unit has become profitable since mass production started at the end of 2024. According to the contract chipmaker’s financial statement released on Friday, Japan Advanced Semiconductor Manufacturing Inc (JASM), a joint venture running the fab in Kumamoto, posted NT$951 million (US$30.19 million) in profit in the January-to-March period, compared with a loss of NT$1.39 billion in the previous quarter, and a loss of NT$3.25 billion in the first quarter of
RESOLUTE BACKING: Two Republican senators are planning to introduce legislation that would impose immediate sanctions on China if it attempts to invade Taiwan US House of Representatives Speaker Mike Johnson on Sunday reaffirmed US congressional support for Taiwan, saying the US and “all freedom-loving people” have a stake in preventing China from seizing Taiwan by force. Johnson made the remarks in an interview with Fox News Sunday on US President Donald Trump’s summit with Chinese President Xi Jinping (習近平) last week. In an interview that aired on Friday on Fox News, just as Trump wrapped up a high-stakes visit to China, he said he has yet to green-light a new US$14 billion arms package to Taiwan and that it “depends on China.” “It’s a very good
RSS