The Swearing-In Ceremony of FMCCAM

October 4, 2017 at 11:24 am



Good Evening dan Salam Satu Malaysia.

1. Saya rasa amat bersyukur kerana kita dapat bersama-sama pada malam ini untuk menyaksikan satu lagi detik bersejarah dalam perkembangan industri pengangkutan antara negara kita Malaysia dengan negara Singapura dan Negara Thai. Saya yakin ini adalah satu lagi perkembangan berikutan dengan visi ASEAN Economic Community yang akan membawa banyak lagi manfaat kepada industri pengangkutan negara kita masing-masing.

Distinguished guests, ladies and gentlemen,

2. First and foremost, I wish to record my thanks to the Federation of Motor and Credit Companies Association of Malaysia (FMCCAM) for inviting me to witness the signing of the ASEAN Memorandum of Understanding of Alliance between FMCCAM and Singapore Vehicle Traders Association and the Association of Used Car Thailand to strengthen their collaborative relationships, cooperation and to work together for the betterment of the automotive industries of our countries.

3. It is indeed a great occasion that our three countries, being the closest neighbours have kick started this effort to steer the automotive industry – mainly the used and new motor vehicles industries towards the ASEAN Economic Community (AEC) 2025 vision. We are proud to be able to play an active role in the Free Trade Agreements process between ASEAN and key automotive markets in the region.

4. Currently there are almost 21 million vehicles on the road in Malaysia. The vehicle ownership and registration regime in Malaysia subscribes to a high standard for safety of the vehicle and owner. Among others the Government have recommended that private cars to be fitted with e-Call, an initiative aiming to bring rapid assistance to motorist involved in a collision or non-crash, anywhere including remote area. My ministry seeks the industry to support this initiative as this is a proven system to save lifes during emergencies.

5. Mutually reinforcing initiative is the Automated Awareness Safety System (AwAS) program. Although this initiative has been critized in recent times, but it has been proven to be an effective tool to reduce road accidents and fatalities.

6. As technology moves forward, so does the passenger car innovation follows suit. The Autonomous Vehicle or AV is the future of passenger car technology. It is primarily designed to reduce human intervention in the operation of a car, so as to reduce fatalities due to human related error. Malaysia as a progressive nation moving forward is in support of this future technology.

7. It is our vision that this alliance will spearhead initiatives to leverage on ASEAN’s bilateral and multilateral Free Trade Agreements (FTAs) with Chinese and other notable economic powers through China’s One Belt, One Road (OBOR) initiative. Needless to mention, China’s mega One Belt One Road is not only the ‘Project of the Century’ that is quickly taking shape, but one that also lends important logistical infrastructure support, and stimulation of trade and business to ASEAN’s economic framework. Collaboration among ASEAN countries remain an impending necessity for us to move forward to embrace growth through seamless empowerment of our resources, to be efficient and optimally competitive, in order to rapidly capitalize future market conditions and not be left behind.

8. External ASEAN frameworks that are already in effect include the ASEAN-China FTA, ASEAN-Korea FTA, ASEAN-India FTA, and the ASEAN-Japan Comprehensive Economic Partnership. These external frameworks have been set in motion and whilst exciting prospects beckon, there is much diligent work ahead before we can progress to taste the fruit of our labor.

Ladies and gentlemen,

9. Nothing we do today is insignificant. Every small step brings us closer to our destination. Even as we look back, if ASEAN had not been formed on that historical day on 8th August 1976 with the 5 founding member states namely Indonesia, Philippines, Singapore, Thailand and Malaysia – three of whom are represented here today, we will not be here this day. Fast forward 38 years, today we need to stand more united than ever to promote peace, stability, security, and prosperity through greater regional cooperation.

10. Similarly, the ASEAN Economic Community (AEC) was established on 31st December 2015. This is an important step towards greater economic integration that seeks to transform a vast and disparate region into an EU-style economic area with free movement of goods, services, investment and skilled labor, including free flow of capital. AEC aims to boost competition and to remove barriers in the automotive sector so that ASEAN will continue to grow rapidly as a common manufacturing platform marketing to a single consumer market for motor vehicles.

Ladies and gentlemen,

11. The AEC has thus far abolished tariffs between member states and liberalized foreign investment. Work is currently in progress to eliminate non-tariff barriers, liberalize service trade, and have mutual recognition of standards, trade facilitation, and free movement of skilled workers. Our aim is to achieve total seamless barriers to reflect a totally cohesive market. The World Bank estimates ASEAN’s market to be the third largest at 630 million after China (1,371 million) and India (1,311 million). As of 30 August 2016, total trade of ASEAN member countries amounted to US$2.3 trillion, and intra-ASEAN trade was US$608 Billion. As of 30 June 2016, total Foreign Direct Investment was USD$119.9 Billion.

12. In conclusion, once again, I would like to take this opportunity to congratulate the Federation of Motor and Credit Companies Association of Malaysia, the Singapore Vehicle Traders Association and The Association of Used Car Thailand for coming together to ink this Memorandum of Understanding of Alliance as they begin this important initiative.

13. Last but not least, it is also my pleasure to witness the swearing-in ceremony of the new committee members of FMCCAM. I sincerely wish them greater success as they take over the reins of the present committee who have shown exemplary dedication and achievements.

14. Wishing you a wonderful evening.

Thank you.