TPPA talks considered Malaysia's concern, sensitivities: Mustapa

The recently concluded Trans-Pacific Partnership Agreement (TPPA) negotiations agreed to take into consideration almost all of Malaysia's concerns and sensitivities such as government procurement, state-owned enterprises and Bumiputera issues.

International Trade and Industry Minister, Datuk Seri Mustapa Mohamed said elements of flexibility accorded to Malaysia included longer transition periods and differential treatment for the country's sensitive areas.

"Let me reiterate that whether or not Malaysia becomes a Party to the TPPA will be a collective decision.

"Once the complete and official text of the agreement is prepared, it will be in the public domain and presented to Parliament for debate.

"We will also hold full consultations with interested parties and the public," he said in a statement Monday.

Mustapa represented Malaysia at the TPPA negotiations with 11 other parties, namely the United States, Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore and Vietnam.

He also stressed that Malaysia would never be party to an agreement that violates the nation's Constitution or one that undermines the core policies instituted by the Government to benefit the people.

During the course of the negotiations from Sept 30 to Oct 1, Mustapa was in constant communication with Prime Minister Datuk Seri Najib Razak to update him on the progress, as well as to seek guidance and mandate to safeguard Malaysia's interests.

On the issue of intellectual property rights, he said Malaysia remained firm that the TPPA should not hinder the public's access to affordable drugs and healthcare, while at the same time ensuring the necessary incentives for pharmaceutical innovators to produce new drugs and medicines.

On market access, a fundamental element in any free trade agreement (FTA), Malaysia concluded its negotiations with all Parties, with import duties for almost all products to be eliminated.

"Essentially, the outcome will provide Malaysian companies with greater market access opportunities, particularly in markets such as the US, Canada, Mexico and Peru with which Malaysia does not have FTAs.

"Malaysian exporters will gain a competitive advantage over regional competitors in exporting products in the electrical and electronics sector, chemical products, palm oil products, rubber products, wood products, textiles, as well as automotive parts and components.

"All of these represent major exports for Malaysia and generate huge amounts of revenue for our national economy and employ thousands of Malaysians," he added.

Mustapa said he firmly believed that the TPPA would enable Malaysia to further promote its trade and investment agenda and help mitigate global economic challenges.