Illustrative image (Photo: malaysiakini.com) Kuala Lumpur (VNA) - Any resumption innegotiations over the Trans-Pacific Partnership (TPP) agreement will be on condition that it paves theway for “fair trade” and a level playing field, International Trade andIndustry Minister Mohamed Azmin Ali told the Malaysian News Agency (Bernama) onNovember 10.
If there is a proposalto ‘revive’ or revise the TPP, all these matters must be taken into account bythe parties who intend to sign the agreement, said Minister Azmin in reply to queries about Malaysia’s nextmove should the US return to the TPP following Joe Biden’s projected victory over President DonaldTrump in the US presidential race.
According to the minister, the US, Malaysia and 10 other countriesreached an agreement on the TPP during Barack Obama’s presidency, with Biden ashis vice-president then. However, President Trump refused to ratify and pulledthe US out of the TPPA just after taking office in January 2017.
Minister Azmin, who is also Senior Minister onEconomics, said this issue was hotly debated at some point in the past becausethere were some provisions in the agreement that were felt not to guarantee orprovide protection to the local industries.
Today, the Malaysian government certainlywants a bigger market, but it also wants to protect the country’s localindustries from being bullied by the big powers, Azmin stressed, adding thatany trade agreement to be signed must look at the level of development of acountry./.
If there is a proposalto ‘revive’ or revise the TPP, all these matters must be taken into account bythe parties who intend to sign the agreement, said Minister Azmin in reply to queries about Malaysia’s nextmove should the US return to the TPP following Joe Biden’s projected victory over President DonaldTrump in the US presidential race.
According to the minister, the US, Malaysia and 10 other countriesreached an agreement on the TPP during Barack Obama’s presidency, with Biden ashis vice-president then. However, President Trump refused to ratify and pulledthe US out of the TPPA just after taking office in January 2017.
Minister Azmin, who is also Senior Minister onEconomics, said this issue was hotly debated at some point in the past becausethere were some provisions in the agreement that were felt not to guarantee orprovide protection to the local industries.
Today, the Malaysian government certainlywants a bigger market, but it also wants to protect the country’s localindustries from being bullied by the big powers, Azmin stressed, adding thatany trade agreement to be signed must look at the level of development of acountry./.
VNA
