Ong Tee Keat on Liberalization

An attempt to build a case for good governance

Written by Ong Tee Keat

Wednesday, 18 February 2009

Now, we are facing the onslaught of liberalisation and globalisation. Liberalisation in the service sector is going to be an acid test to our competitiveness and resilience. When we talk about this subject, people keep referring to the New Economic Policy, the 30 per cent and quota. But at this juncture, it is important for us to take note of changes in the global scenario.

We are signatory to the World Trade Organisation and the Asean Framework on Liberalisation in the Service Sector. We are in the midst of liberalising some of these service sector progressively. The government is now handling the issue very seriously and it is only right for me as a political leader to alert our local industry players to rise to such challenges.

We are no longer competing among ourselves. Why should we be inward looking? We need to face competition from abroad. Are we ready? Are we resilient enough? When talk about liberalisation, it is not only that we are going to open up to allow others to compete with us. We can also go beyond our shores to compete with others. We should be prepared to do so in the name of globalisation.

At the end of the day, competitiveness and resilience is [sic] what count. I don't want to see our people's mind to be shackled by such a quota-centric mindset. Don't you think this is a form of protectionism? Globalisation is here and we should be prepared.