TPAA represents more than just trade - Obama

The Trans-Pacific Partnership Agreement (TPPA) represents more than just trade, it is a vision of a better future in the global economy, said United States President Barack Obama.

"The TPP is not just a trade pact. It levels the playing field for everyone and integrate our markets," said Obama.

He said this during his address at the ASEAN Business and Investment Summit 2015 at the Shangri-La Hotel here today.

Obama who had arrived at Kuala Lumpur yesterday for the 27th ASEAN Summit and Related Summits will be joining leaders of the 10-member Association of South East Asian Nations (ASEAN) for a weekend summit.

Leaders from eight other countries with close partnerships with the grouping - Australia, China, India, Japan, New Zealand, Russia, South Korea and the United States - will also attend the meetings starting on Saturday.

MUST READ: Obama's second visit to Malaysia: Here's what you need to know

During a townhall meeting with the alumni of the Young Southeast Asian Leaders Initiatives (YSEALI) at the Taylor's University Lakeside Campus yesterday, Obama said TPPA is a balanced deal that took into account everybody's benefit.

WATCH VIDEO: Obama engages with youths during YSEALI town hall meeting

Addressing the concerns by several quarters on the TPPA, he said the documents were currently posted on websites where everyone can access and read every chapter before countries can ratify, subject to the approval or disapproval by each legislative or parliament of countries involved.

PHOTO GALLERY: Barack Obama during town hall meeting with alumni of the YSEALI

Malaysia and 11 other countries – Australia, Brunei, Canada, Chile, Japan, Singapore, Mexico, New Zealand, Peru, the United States and Vietnam successfully concluded negotiations for the TPP on Oct 5, 2015.

According to International Trade and Industry Minister Datuk Seri Mustapa Mohamed, the content of the TPPA and the two impact studies would be tabled in parliament next January.

This will be followed by a debate to decide whether Malaysia should sign the TPPA at end-January 2016 while the ratification of the agreement is expected to be realised after two years of signing the pact.