KUALA LUMPUR, Feb 24 — Malaysia agreed to join the Trans-Pacific Partnership (TPP) agreement on its own term, Prime Minister Datuk Seri Najib Razak said today.
He attributed the success to the International Trade and Industry Ministry (MITI) that worked hard to ensure the country would benefit from the deal, which was opposed by various parties due to allegations that the deal puts Malaysian sovereignty at risk.
“When we agreed to join the TPP we did it on our terms and alhamdulliLah we succeeded to ensure that we become a member according to the terms we ourselves set,” Najib said when launching MiTI’s new office on Jalan Duta here.
“Even though the responsibility was heavy, alhamdulliLah, we have succeeded in negotiating the terms in the best possible way,” the prime minister added as he thanked MITI for spearheading the negotiations.
Those opposing the TPP claim the agreement would invite problems including possible US interference in domestic policy making.
The Najib administration has denied the allegation.
Recently International Trade and Industry Minister Datuk Seri Mustapa Mohamed defended the government’s decision to sign the TPP and said businesses in Malaysia, including small and medium scale enterprises, are looking forward to greater market access opportunities.
He said the textile, electrical and electronics, palm oil and rubber industries were also among sectors that were keen to exploit opportunities arising from an expanded market and lower tariffs under the new pact.
Mustapa said businesses were looking forward to reap the benefits that would be forthcoming from the TPP in terms of market access.
He added that the government took into consideration feedback from all sources and found this to be generally supportive.
