Datuk Seri Najib Tun Razak said that the perception that the Trans-Pacific Partnership Agreement (TPPA) is a form of colonisation by United States of America and the big powers was totally untrue.
The Prime Minister stressed that the reality was that Malaysia's participation in the TPPA considered the significance of the agreement and the long-term returns to the country and the people.
"The TPPA will open up more avenues to Malaysians to explore new markets in TPPA countries especially America, Canada, Mexico and Peru," he said in his jottings on Facebook.
Najib also commented that the free trade agreement (FTA) and the foreign direct investment (FDI) were not new things to Malaysia.
READ: TPPA could bring in additional US$100 billion investment by 2027
READ: Minor amendment to laws related to TPPA - Mustapa
READ: MPs notified of Dewan Rakyat special sitting on TPPA
Malaysia, he said, had already signed the FTA with other nations such as Japan, China, Korea, India, Pakistan, Chile, New Zealand and Australia.
Therefore, he said, no parties should assume that the TPPA would potentially be mortgaging the country to the super powers.
He stressed that Malaysia had never been forced or pressured into joining the agreement.
"On the contrary, Malaysia's involvement in TPPA should be seen as part of the government's responsibility to ensure the country remains competitive in the global economy," said the prime minister.
Najib said of the 12 countries which would be signing the TPPA, Malaysia was the only one presenting it to the Parliament for debate and ratification.
"Thus, it is clear that the country adheres to the principles of democracy, by ensuring that the people's views and concerns pertaining the TPPA are taken into account before it is signed," he said.
Recognising the positive impact of the TPPA on the economic development and trade, Najib said the other TPPA leaders also welcomed the agreement.
READ: No TPPA, no high-income status for Malaysia
"As such we should see the plurilateral trade liberalisation as a positive development rather than a threat to the global trade system, " said Najib, who is also Finance Minister.
Compared to previous free trade agreements, he said TPPA took into account the specific issues of interest to Malaysia by allowing exceptions in cases such as Bumiputera rights, government takeover, state-owned companies and others.
In addition, he said Malaysia has the leeway to withdraw from the TPPA by giving a written notice of six months.
"So TPPA is not a binding contract. In the event that TPPA is seen to be detriment to the country, Malaysia as a sovereign state has the right to withdraw from the agreement, " he said.
Elaborating further, Najib said the free trade agreements such as the TPPA could not only open up markets for products and services, but could also potentially help develop businesses, create more job opportunities as well as provide more choice of products which were cheaper to Malaysians.
"The good response to the TPPA by other nations clearly showed that they agreed that this agreement was the best opportunity to improve and spearhead the country's economic growth.
The motion to decide Malaysia's participation in the TPPA will be tabled on Tuesday in a special Parliamentary sitting.
Bernama
Tue Jan 26 2016
NAJIB: The TPPA will open up more avenues to Malaysians to explore new markets in TPPA countries especially America, Canada, Mexico and Peru. - File pic
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.