Malaysia will not sign a free trade deal with the United States unless its interests are protected, the trade minister said.

"The outcome of the ongoing negotiations will determine the cost and benefit to Malaysia in all sectors," said Minister of International Trade and Industry Rafidah Aziz.

"Malaysia will only accept an agreement if it is satisfied that its interests in all sectors have been taken into account," she said in a statement obtained Tuesday by AFP.

The US and Malaysia earlier this month concluded their first round of free trade negotiations in Penang.

Four more rounds are due over the next six months, with Washington aiming to fast-track the negotiations to finish by year's end and pass the deal before July 1, 2007, when Congress regains the right to amend any pact negotiated.

Rafidah signalled Malaysia would not be rushed into inking any agreeement.

"Malaysia will seek whatever timeframe that is necessary to negotiate an agreement that would benefit Malaysia," she said.

The minister also said Malaysia would not accept any agreement "that does not contain adequate flexibilities and safeguards in all relevant areas of negotiations."

Early tariff cuts

She said these included a longer timeframe for liberalising trade in sensitive products and opening up the country's services sector.

While the first round was intended to exchange views on the deal, Rafidah said Malaysia had requested early tariff cuts in a number of areas, including textiles and garments and electrical and electronics products.

"Both sides also proposed that there should be adequate safeguard provisions to allow for remedial measures to be taken should injury to domestic industries occur as a result of liberalisation," she said.

Analysts have welcomed the talks as a positive step for Malaysia's economy that will help it attract more direct investment from the United States, its 10th biggest trading partner.

However, activists have expressed concern that Malaysia will be outgunned in the negotiations by the might and expertise of US negotiators.

They also say an FTA could undermine job and food security, and the nation's economy as a whole.