TPPA: Government to ensure SMEs do not 'close shop'

The government will ensure traders of Small and Medium Enterprises (SMEs) will not close shop once the Trans-Pacific Partnership Agreement (TPPA) is signed.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed stressed that SMEs will be allowed to compete in the international arena.

“The government will not change our labour policy. Many are worried that SMEs will not be able to compete and would be forced to close shop. No,” he said when tabling TPPA at Dewan Negara today.

“In an open market, SMEs will be required to compete domestically and globally,” he added.

READ: Malaysia only country to table TPPA in Parliament - Mustapa

He said Malaysia is committed to play a bigger role in ensuring that the TPPA will be beneficial to SMEs.

On Wednesday, the Dewan Rakyat approved a motion allowing Malaysia's participation in the TPPA, moving the country a step forward towards signing and ratifying the trade accord bringing together 12 nations.

READ: Dewan Rakyat approves motion on Malaysia's participation in TPPA

The motion was carried with 127 votes for and 84 against.

Twenty-four MPs spoke during the debate on the motion tabled by Mustapa yesterday at the two-day special sitting of the house.

The Dewan Rakyat approval backs the decision of the government for Malaysia to be a part of the TPPA member countries after the talks were concluded on Oct 5, 2015 in Atlanta, United States, following more than five years of negotiations.