'Malaysia has completed 80pc of AEC scorecard'
SINGLE MARKET: Country has 2 years to improve ahead of 2015 rollout, says Mustapa
MALAYSIA has completed about 80 per cent of its Asean Economic Community (AEC) scorecard, two years ahead of its rollout in 2015.
International Trade and Industry Minister, Datuk Seri Mustapa Mohamed said although Malaysia is a bit behind, it still has two years to improve.
"We are confident of improving the scorecard by 2015," he said at the Shell Malaysia Innovation Summit 2013 yesterday.
The AEC will merge the 10-member Asean economies into a unified production, trade and investment bloc.
Its aim is to create a single market for the region, which has a total population of around 600 million people with a combined gross domestic product of US$2 trillion (RM6.4 trillion).
Meanwhile, Mustapa said Shell Malaysia has pledged to invest US$1 billion yearly in Malaysia's oil and gas industry.
He added that the company's top management is satisfied with its operations here and has employed some 6,500 people to date.
Royal Dutch Shell executive vice-president Maarten Wetselaar said the company sees room for further innovation and value creation for the industry and Malaysia.
"As a long-term investor and partner in Malaysia, Shell is committed to create a positive legacy - a contribution to the nation that we and our partners can be proud of," he said.
Themed "Innovation Driving Development", the summit brings together Shell business and technology leaders with government and industry experts to discuss the key role of technology and innovation towards securing energy needs for Malaysia and the Asia-Pacific region.