KUALA LUMPUR, Oct 8 — Despite reservations, the opposition Pakatan Harapan is refraining from making an official stand on the biggest regional trade deal involving 12 nations that Malaysia is a party to as it needs to weigh the pros and cons of the controversial US-led Trans-Pacific Partnership Agreement (TPPA).

As Malaysia’s economy slows, DAP federal lawmaker Tony Pua indicated that the new political alliance his party has forged with PKR and Parti Amanah Negara (Amanah) may support the government over the undertaking that could pave the way for greater trade across the Pacific region and raise the country’s competitive standing.

“For Pakatan Harapan we have not established our stand for a very simple reason, we do not have the agreement and the devil is in the details.

“We have to balance the the pros and cons of the details. If it means to create competition among government-linked companies, result in prudent government spending, then it's a good thing, but if medical costs go up then that's a terrible thing,” he said at a fundraising dinner for Amanah at the Thean Hou temple here last night.

He added that while the opposition pact is very concerned about the impact of the TPPA on the country, they needed to know the details before deciding whether to back the agreement or otherwise.

News that 12 nations, including Malaysia, have reached an agreement on the trade deal, was announced at a press conference in Atlanta, the US Monday,

Those representing the countries involved in the pact must now seek approval to ratify the deal.

According to international reports, the Pacific agreement would phase out thousands of import tariffs as well as other barriers to international trade and establish uniform rules on corporations’ intellectual property, and open the Internet.

Critics have been criticising the secrecy with which the deal is being negotiated, claiming that it would, among other things, undermine the sovereignty of signatory nations and make drugs more expensive in member countries.