PUTRAJAYA –  The New Economic Model that Prime Minister Najib Abdul Razak had mooted since taking the office last April, will be announced in two phases, with the first stage on  March 30.

The next stage of the model will be announced at the tabling of the 10th Malaysia Plan.

"The second stage is part of the 10th Malaysia Plan and slightly after that, depending on the process.

"We want to engage all stakeholders,”  Najib, who is also Finance Minister, told reporters after meeting with members of Pemudah (the special task force to facilitate business) here Thursday.

He, however, declined to answer, when asked about concerns by some quarters over the new model, particularly with regards to the bumiputra issues.
He said it was "too early" for him to elaborate on the matter.

“I don’t want to jump the gun. I don’t want to address the new economic model. Otherwise, I will be speaking, not out of turn, but prematurely, and letting the cat out of the bag,” he said.

The Malay Consultative Council recently expressed its concern and urged the Government to ensure the proposed NEM would be within the framework of Article 153 of the Constitution to preserve the rights of the Malays and the natives of Sabah and Sarawak.

MITI studies Pacific partnership

On another matter, Najib said the Cabinet has given the green light to the International Trade and Industry Ministry (MITI) to study the possibility of Malaysia entering the United States-initiated Trans-Pacific Partnership (TPP).

“The Cabinet will make its decision if the study by MITI shows the TPP benefits Malaysia,” he said.

Najib said the US had informed Malaysia that it has put plans for a Free Trade Agreement (FTA) on the backburner, adding the current administration (under Barack Obama) was more keen to work on multi-lateral trade initiatives.

Members of the TPP are Singapore, Chile, New Zealand, and Brunei. They are part of the much larger 21 Asia-Pacific Economic Cooperation (Apec) member economies.

Najib said the government would not take too much time to decide whether it would want to be part of TPP, adding he might be able to give some indication of the matter to President Obama if a bilateral meeting is "on the card” when he visits the US next month.

The Prime Minister is scheduled to be in Washington attend the World Nuclear Conference on April 12 and April 13.

He said 45 leaders were expected to attend and “if there is one (bilateral meeting) it will be held in the margin." — Malaysian Mirror