TOKYO, May 22 — Prime Minister Datuk Seri Najib Tun Razak said Malaysia looks forward to the completion of the Trans-Pacific Partnership (TPP) on terms acceptable to the country, possibly by year-end.

“We will try as in the beginning it was targeted for completion at the end of last year. But at the East Asia Summit in Bali, I stated this was not possible, would not be a reality, but we hope for this year-end,” he added.

Najib said this at a media conference after delivering his keynote address at the prestigious Nikkei 20th International Conference on The Future Asia “Rising Asia: Messages For the Next 20 Years” here today.

This is Najib’s second appearance as a keynote speaker at the Nikkei conference. His first was at the 17th Nikkei Conference in 2011.

However, Najib, who is also Finance Minister, said if the year-end date cannot be met, Malaysia would continue with the negotiations as the deadline was not important but rather the content of the TPP agreement.

He said the aim of the TPP agreement was to achieve two objectives - expanding trade and market access in terms of economic and investment growth, and to uphold the country’s sovereignty based on current principles.

“We will hold to these two principles and I do not want them to be jeoparised because of the TPP agreement,” he said.

In this context, the prime minister directed Malaysian negotiators to negotiate for a “TPP agreement that is on our terms”.

Asked on the Malaysian public’s perception of the TTP, Najib explained that they have not been informed as the agreement was still being negotiated.

“If a TPP agreement is reached and completed, only then will we reveal the contents. Although Datuk Seri Mustapa Mohamed (International Trade and Industry Minister) has had many engagements with various quarters to explain the TPP principles, we still have to wait for the entire process to end,” he said.

Najib said that as soon as negotiations are completed, he will inform the Malaysian public of its contents and present in Parliament for endorsement.

He also did not deny that the TPP negotiations were being politicised back home.

“Of course, that is the work of the opposition, they will oppose to everything. What is good for the people they will oppose but there are times when you can only see the benefits in the long-term,” Najib added.

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

Earlier in his keynote address, Najib said TPP would strengthen the country’s ties with the wider world; as would the Regional Comprehensive Economic Partnership, which would bring three of the largest economies into the world’s largest trading bloc.

“In an interdependent global economy, the benefits of greater co-operation extend far beyond Asia’s borders,” he added.

The conference was organised by well-known international media group, Nikkei Inc of Japan.

Also present were Singapore Prime Minister Lee Hsien Loong and President and Chief Executive Officer of Nikkei Inc Tsuneo Kita. — Bernama