NOVEMBER 2 — Malaysia’s reciprocal trade agreement (RTA) with the US has been compared with the one Washington signed with Cambodia on the same day.

Both agreements can be read here and here. 

Critics particularly refer to the difference in wording in Article 5.1.1 of both RTAs which raises questions about Malaysia’s ability to retain independent policy choices in future trade or security matters.

Article 5.1.1 in the Malaysian RTA, it is said, does not contain an explicit clause that safeguards national sovereignty unlike the same clause in the Cambodian RTA.

But trade agreements or deals are bespoke. The word means “specially made for a particular person, organisation, or purpose”.

A bespoke agreement therefore refers to a customised, non-standardised transaction that is specifically tailored to the commercial needs or investment objectives of one of the parties. 

The word is also used to refer to customised, non-standard provisions of an agreement. 

In simple words, it is an agreement that is custom-made.

In truth and in reality, all trade agreements are bespoke. There is no one-size-fits-all. No two agreements can be directly compared.