The presence of companies from the Trans- Pacific Partnership (TPP) member countries in Malaysia does not mean that the country will be re-colonised, said Minister of International Trade and Industry (MITI), Datuk Seri Mustapa Mohamed.
In a statement today, he said these companies had already been operating in the country as Malaysia encouraged foreign investments.
"The government views that the Trans-Pacific Partnership Agreement (TPPA) will create a 'win-win' situation for every member country.
"This is a reality that we need to recognise that the Malaysian market is limited and Malaysian companies and professionals have long explored opportunities abroad," he said.
Mustapa said many professionals and Malaysian were already working in various sectors overseas including TPP member countries such as Australia, New Zealand, Singapore and Brunei.
He emphasised that while priority was still given to ASEAN countries, Malaysia needed to make an effort to expand trade relations with other countries as reliance on one or two countries could be risky.
Up to June 2015, Malaysian investments abroad amounted to RM522 billion, which exceeded the RM477 billion foreign investment in the country, he said.
Mustapa said that the participation in the TPPA did not mean the country would accept capitalist system in total.
"Malaysia will continue to execute its own development model based on an inclusive-driven economic growth," he said.
The participation in the TPPA, he said, did not mean that Bumiputera institutions such as Majlis Amanah Rakyat and Unit Peneraju Agenda Bumiputera would be neglected.
He said Malaysia had made the decision to participate in the TPPA discussions after taking into consideration benefits from the economic aspects.
"We have the opportunity to market products such as textiles, electronics, palm-based products and other products at more competitive prices to TPP market including the US which is the largest consumer market in the world," he said.
Malaysian participation in the TPPA, he said, would also not affect Malaysia's economic relations with China.
He said Malaysia has been a strong supporter of the 'One Belt, One Road' economic initiatives spearheaded by China.
As an Asean country, he said, Malaysia had also benefitted from the ASEAN-China Free Trade Agreement which had been progressing for almost 10 years.
At the same time, he said, Malaysia and other ASEAN countries were also negotiating for the Regional Comprehensive Economic Partnership involving 16 countries including China.
Bernama
Fri Nov 13 2015
This is a reality that we need to recognise that the Malaysian market is limited and Malaysian companies and professionals have long explored opportunities abroad- Mustapa
Battle Of The Reds: Legenda Liverpool masih bertenaga
Legenda Manchester United terpaksa akur dengan kekalahan kepada legenda Liverpool dengan jaringan 4-2.
Boling Padang: Farah Ain muncul juara dunia!
Farah pamer aksi luar biasa dalam penampilan sulungnya di pentas bertaraf dunia dengan kemenangan straight sets 6-2 dan 6-3.
Sultan Nazrin, Tuanku Zara hadiri majlis Aidilfitri PDRM Perak
Sultan dan Raja Permaisuri Perak berkenan berangkat menghadiri Majlis Sambutan Aidilfitri PDRM Kontinjen Perak 2024.
Nahas helikopter Lumut: Kebajikan, pendidikan anak-anak wira dipastikan tidak terabai - Menteri
Kementerian Pendidikan lakukan susur tindak bagi memastikan kebajikan 10 orang anak mangsa nahas helikopter dijaga sehingga tamat persekolahan kelak.
Bintang TikTok Iraq, Umm Fahad ditembak mati di luar rumah
Pihak berkuasa Iraq umum penubuhan "jawatankuasa siasatan khas- untuk menjejaki pembunuh yang tidak dikenali itu.
PM Anwar tiba di Riyadh untuk hadiri Mesyuarat Khas Forum Ekonomi Sedunia
Perdana Menteri Anwar tiba di Riyadh dalam rangka lawatan tiga hari bagi menghadiri Mesyuarat Khas Forum Ekonomi Sedunia (WEF).
Jemputan peribadi ke Mesyuarat Khas WEF bukti keakraban Putera Mahkota Mohammed, PM
Ini merupakan lawatan keempat Anwar ke Arab Saudi sejak dilantik sebagai Perdana Menteri.
Kerajaan Pusat peruntuk RM1.59 bilion untuk pembangunan fizikal di Terengganu
Peruntukan tersebut melibatkan 99 projek baharu dan 296 projek sambungan di bawah Rolling Plan 4 (RP4) Rancangan Malaysia ke-12 (RMK12).
Pahang rancang wujudkan zon perindustrian di setiap daerah
Kerajaan Pahang rancang wujudkan zon perindustrian di kesemua 11 daerah di negeri ini bagi menggalakkan kemasukan lebih banyak pelaburan asing khususnya dari China.
Kertas kabinet wujud sektor sukan dibentang dalam tempoh sebulan - Hannah
Hannah berkata dengan data yang lebih menyeluruh melibatkan sektor industri sukan nanti, pihaknya akan mampu merangsang pertumbuhan sukan di negara ini dengan lebih baik.
Menteri Luar adakan lawatan rasmi ke China esok
Menteri Luar , Datuk Seri Hishammuddin Tun Hussein akan mengadakan lawatan rasmi ke China dari 1 hingga 2 April 2021.
Beware of the Fitch rating that can hurl Malaysia into a ditch
Credit rating agencies cannot be trusted, as the key navigator to steer the macro or micro economy of Malaysia, says Dr Rais.
Kaji selidik Monash: Pemimpin korporat Cina puas hati dengan PH
Dalam kaji selidik yang melibatkan 390 responden itu, 50 peratus pemimpin korporat Cina berpuas hati, diikuti pemimpin Melayu (39 peratus), dan pemimpin India (38 peratus).
MAS tawar diskaun tiket sehingga 50 peratus bermula hari ini
Syarikat penerbangan Malaysia Airlines kini menawarkan potongan diskaun bagi kadar tambang sehingga 50 peratus bermula hari ini sehingga sehingga 8 Mei depan.