TPPA vital in ensuring Malaysia remains competitive - Mustapa

The Trans-Pacific Partnership Agreement (TPPA) is vital in ensuring that Malaysia remains competitive.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed guarantees domestic sentiment will always be protected.

“I am confident that TPPA will increase the country’s economic performance and competitiveness in the international platform,” said Mustapa when met during the ‘Tanya Gomen’ program held here, today.

He added that TPPA will not give a big negative impact as Malaysia already has 13 Free Trade Agreements (FTA).

TPPA is also expected to aid Malaysia in entering the US, Mexico, Chile and Canada market in an easier manner.

Meanwhile, Mustapa said, Malaysia can withdraw anytime from TPPA even upon implementation, if "uncomfortable" with it.

He said Malaysia will not be penalised for withdrawing from the pact as TPPA was a voluntary agreement.

“However, if we withdraw, we will be less competitive compared to the other member countries,” said Mustapa.

He said TPPA will be tabled and debated in the Parliament in the mid of January and will only be signed upon approval by the Parliament.

“If signed, TPPA will move into a two-year ratification phase where the rules and regulations will be streamlined based on it. And if the laws tabled is not approved by the Parliament, then Malaysia can cancel the agreement,” said Mustapa.

He said the contents of the TPPA will be made public in the next few weeks to provide transparent information to the people and this move was being made by almost all members involved in it.

Mustapa gave an assurance that in implementing the TPPA no uncertified goods would enter the Malaysia.