Malaysian Prime Minister Mahathir Mohamad (Photo: Xinhua/VNA) Kuala Lumpur (VNA) - Malaysia will go ahead with theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),said Malaysian Prime Minister Mahathir Mohamad.
PM Mahathir reaffirmed Malaysia’s commitment to the CPTPPinvolving 11 nations in a recent interview with a Thai television.
He said after the US pullout from the CPTPP, the condition whichallows companies to sue governments is no longer something Malaysia needs tofear. Also, there is less overwhelming dominance of the US over the othercountries.
"The previous government had already signed to become amember. We can't withdraw without losing credibility, so we will have to goahead with the CPTPP," he said.
In an immediate response, an official said PM Mahathir's replywas a long-awaited reaffirmation of Malaysia's commitment to the CPTPP and itwill clarify Malaysia's trade policy under the Pakatan Harapan government.
Malaysia together with 10 other countries, namely Australia,Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore and Vietnam,signed the free trade agreement in March 2018.
The next step before the pact comes into force is when six ofthe 11 countries ratify the agreement. So far, Singapore, Mexico and Japan haveratified the pact. Australia and Chile have indicated that they will follow suitby year-end.
The ratification question seems to be uppermost on the minds ofMalaysian officials in recent weeks after several rounds of briefing to thePrime Minister and his Cabinet.
It is understood that several Cabinet ministers are for the pactwhile others have their reservations.-VNA
VNA
