Malaysia Wants More Market Access For Exports Under TPPA

SHAH ALAM, (Bernama) -- Malaysia wants more international market access for its exports under the Trans-Pacific Partnership Agreement (TPPA) initiated by the United States, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Photo credit: themalayonline

"We are a nation which is dependent on trade, we want to sell our products overseas and lure more investments to the country," he said at a discourse on "International Trade Agreements: What Malaysia Stands To Gain".

He said it was important for Malaysia to be part of the TPPA to reduce bureaucracy and increase delivery system which would indirectly reduce the incidence of corruption.

Mustapa also said joining the TPPA would not necessarily increase foreign investments in the country but it would help make Malaysia a favourite investment destination among foreign investors.

With the TPPA in place, it would also protect the interest of government-linked conglomerates like Petronas and Sime Darby Bhd which have invested heavily overseas, he added.

Mustapa also said the government would not keep the contents of the TPPA negotiations confidential.

The next round of negotiations, involving 12 countries, will be held in Kota Kinabalu, Sabah, from July 15-15.

The minister said the government has consulted various parties including related non-governmental organisations and government-linked companies for the negotiations which was expected to be concluded in three months.

"The government was also mindful of the Federal Constitution, the cordial relations between the different states and the Federal government and the special rights of the Bumiputeras.

"It was important for the government to be mindful of these factors as it should uphold the country's sovereignty and not sacrifice government-linked companies like Petronas, which was so important to the economy, in meeting the requirements of foreign parties," said Mustapa.

He said the views and opinions of non-governmental organisations and that of the opposition have also been taken into account to protect the country's interest.

However, Mustapa said although the negotiations were in the final stage, Malaysia would not compromise on any issue that would jeopardise the country's sovereignty and peoples' interest in the pursuit to chase the October dateline.

He reiterated that Malaysia was committed to safeguarding Malaysia's economic and trade interests vigorously across all international engagements, including the TPPA.

The TPPA is an free trade agreement involving 11 countries namely Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, United States and Vietnam.

Japan will participate in next week's round of TPP negotiations.

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