Malaysia not sidelining China and other trade partners via participation in tppa

A member of parliament today promoted the words “kiasu” and “kiasi” in describing the necessary attitude that should be adopted by Malaysians in the issue of the Trans-Pacific Partnership Agreement (TPPA).

However, opponents of the TPP said they fear the pact would compromise national interests and favour foreign multinational companies.

Similarly, Mustapa said the import tax on textile products will be reduced by 70% and it will give a 30% boost to exports of Malaysian textiles.

The Government has turned up the rhetoric on the deal over the past few days, saying it offers increased earnings for Maori exporters and jobs for Maori workers.

“Even though Malaysia is not a major producer in the automotive industry, the government feels this sector has big potential under the TPPA”.

“Malaysia will also receive better treatment in countries like the United States, Canada, Mexico and Peru”.

Under Malaysia’s foreign policy, ASEAN is a priority for the country in respect of forging trade relations, while China and other countries have equal importance, he said.

“Failure to participate in such trade agreements will see the country lose out in economic growth and the country will be left behind other developing nations”, he said.

“This analysis confirms the Trans Pacific Partnership will prevent future governments making laws in the interest of New Zealand”, Labor leader Andrew Little said in a statement.

Lori Wallach, the Washington-based Director of Public Citizen Global Trade Watch is in New Zealand lobbying against formalising the agreement, and claims that any country that rushes into signing the deal will end up in an embarrassing situation of having to make more concessions or approving something that hasn’t been approved by other countries.

“TPPA will also ensure that environmental, labour and intellectual property rules are implemented”.

He said Malaysia would enter the TPPA on its own terms, and that Bumiputera privileges would not be protected.

Mustapa added it is the first worldwide treaty that is brought to Parliament to be decided. Malaysia’s small market is not enough for businesses to expand as such we must receive and accept changes in order to grow and expand.