KUALA LUMPUR, (Bernama) -- The Trans Pacific Partnership Agreement (TPPA), which is under negotiations, will not rob the country's sovereignty as it does not restrict the government to regulate or take the necessary steps to protect the nation's rights and sovereignty.
The assurance was given by International Trade and Industry Minister Datuk Seri Mustapa Mohamed who said there was no provision in the TPPA particularly in investor-state dispute settlement (ISDS) that could threaten the sovereignty of the country.
"There is no regulation in the TPPA that can prevent the government from using, maintain or enforce domestic policies to defend the interests of the country.
"Previously, Malaysia had signed 74 investment protection agreements including with the United States since 1959 which contained similar provision
with the ISDS which has successfully attracted many foreign investors," he said.
He was replying to a question from Charles Santiago (DAP-Klang) and several questions from other Members of Parliament in a question and answer session at the Dewan Rakyat here Thursday.
Charles asked for a clarification on the current status of the free trade agreement (FTA) negotiations between Malaysia and countries in the TPPA, and whether the government could guarantee the country's sovereignty will not be compromised if Malaysia signed the agreement.
Responding to concerns relating to ISDS, which is said to provide opportunities for multi-national corporations (MNCs) to take a government to international arbitral tribunal, Mustapa said it not only provided benefits to foreign companies but also local companies which require protection when investing overseas.
On the impact of the TPPA on small and medium enterprises (SMEs) and Bumiputera companies, he said the negotiations also considered that aspect.
This, he said, would make the TPPA the first FTA in the world to pay attention to the SMEs by providing a special chapter on it to ensure they are not left out.
Meanwhile, Mustapa denied the allegation that there was no consultation with stakeholders before deciding to get involved in the TPP negotiations.
"Proper consultation had been made before Malaysia got involved in the negotiation process and the government had also consulted on prevailing issues with various parties," he said.
These included chambers of commerce, Malay Economic Action Council, Consumer Association of Penang and political parties.
"We have also disclosed the growing need for Malaysian companies and measures that can facilitate information on investment to local companies which are involved in global markets," he said.
To a question from Datuk Fauzi Abdul Rahman (PKR-Indera Mahkota) whether the government would consider pulling out of the talks if Malaysia's assertiveness was not accepted by the other countries, Mustapa said Malaysia has the right not to sign any agreement if it found that the country's sovereignty has been compromised.
"We (Malaysia) join the negotiations without the coercion from any party, so if (we) do not agree, the country can choose not to sign (the agreement). The important thing is to ensure the sovereignty of the country is protected," he said.
According to Mustapa, the TPPA negotiations has gone through 17 rounds starting March 2010, and it was expected to conclude by the end of the year.
For more stories:
0 comments:
Post a Comment