PM: Use euro in trade

  • Nation
  • Sunday, 08 Jun 2003

KUALA LUMPUR: The private sector has been urged to use the euro in their export trade as the US dollar is likely to depreciate further, Prime Minister Datuk Seri Dr Mahathir Mohamad said. 

He said the depreciating US dollar influenced the export market and the value of exported goods had declined.  

He, however, reiterated the Government had no intention of reviewing the ringgit’s peg against the greenback. 

On the economy, Dr Mahathir said the Government’s recent proactive move to introduce the new package to stimulate economic growth was expected to cushion the impact of a weak global economy. 

Besides focusing on small businesses, the Government also gave attention to Malaysia’s competitiveness by introducing several incentives to draw foreign and domestic investors. 

He said the Government also expanded economic activities by opening new markets for exports, especially in South Africa, South America, the Arab countries and the West Asian region. 

He was speaking at the investiture in conjunction with Yang di-Pertuan Agong Tuanku Syed Sirajuddin Syed Putra Jamalullail’s 60th birthday celebration here yesterday. 

He called on the people to have faith in the country’s ability to handle crises. 

He said the Government’s success in handling the pressures faced by the country had saved the people from various disasters. 

“However, there are some people who don’t have faith in our ability and who join foreigners in running down the country. This is most disappointing. Actually the Government is willing to face whatever challenge or problem that hits the country,” he said. 

Dr Mahathir said although everyone could see problematic countries being oppressed and conquered, many were still trying to split and weaken Malaysia. 

“Their actions will invite disaster to this country. The Government hopes these factions will realise the adverse repercussions of their actions and stop them,” he said. 

Dr Mahathir said, however, that the Government was thankful the majority of the people were loyal to the country. 

“Actually, the country is very fortunate because under Tuanku’s patronage, it is blessed with the ability to tackle the various challenges and hurdles,” he said. 

Congratulating Tuanku Syed Sirajuddin, he said the people appreciated the King's presence at official functions because it brightened up the occasion and promoted unity.  

“On this auspicious day filled with tradition, the Government, public officers and staff and the people respectfully wish Tuanku a 'Happy Birthday' and pledge their undivided loyalty to Tuanku as the reigning monarch as well as the Raja Permaisuri Agong,” he said. 

Dr Mahathir also advised people to accept the garbage disposal technology that was suitable for a developing country like Malaysia because the Government could no longer provide open areas for garbage disposal. 

“If the people continue to reject the garbage disposal system that has been accepted by developed countries, it will be difficult to clean our environment to curb diseases,” he said. 

He said the Government could no longer provide open areas for garbage disposal as this would pollute underground water and provide breeding ground for germs. – Bernama 

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