KUALA LUMPUR, Jan 5, 2016:
The Trans-Pacific Partnership Agreement (TPPA) will yield more benefits than challenges, said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.
Mustapa said the government had analysed the full impact of the trade agreement and would continue to provide explanations to all levels of society for them to gain deeper understanding.
“The ministry has conducted various dialogue sessions where I was involved in such engagements,” he said in an hour-long talk show on RTM last night.
Mustapa stressed that the government would not make any hasty decision.
“In any decision, the government would consider the advantages and disadvantages of any policy,” he said.
The minister said two cost-and-benefit analyses were carried out by PwC Malaysia and the Institute of Strategic and International Studies Malaysia.
“Even though the government recognised there were costs that have to be borne, the benefits outweigh the costs,” he said.
“It cannot be denied that there are several challenges that we have to face by participating in the TPPA, but the government recognises that as a whole, Malaysia can stand to benefit,” he said.
He said if the country decided to be a party to the TPPA, there would also be a two-year ratification period following the signing.
Mustapa said the coming into force of the TPPA was only expected to take place at the earliest by 2018.
The TPPA countries — Australia, US, New Zealand, Canada, Mexico, Peru, Chile, Brunei, Singapore, Japan, Vietnam and Malaysia, account for almost 40% of the world’s Gross Domestic Product and a third of global trade.