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