KUALA LUMPUR: The Trans-Pacific Partnership Agreement will benefit Malaysia as it will open up the right economy here, says a globally renowned expert on international trade.
“Looking at hot button issues such as services, foreign investment and government procurement, the TPPA will open up the right economy,’’ said Dr Razeen Sally, who is also Institute for Democracy and Economic Affairs (Ideas) political economy and governance unit chair.
“If it is done in a proper way, its not just opening the door for foreign investors and multinational companies but local competitors too – and the biggest benefiter will be Malaysian consumers,” he said at Ideas’ fifth anniversary yesterday.
Dr Razeen, who is also a visiting associate professor at the Lee Kuan Yew school of public policy, explained that the negative response from the public was a result of misinformation from activists and NGOs.
“These are scare mongers. If investors need strong intellectual provisions and in return we have extra access to markets; it is a good investment.”
Investor state dispute settlement, according to him, was of utmost concern for investors.
He said that to guarantee the safety of foreign investments, it was essential to have an independent arbitration panel in case something goes wrong.
“International arbitration is one of the ways of sending signals that the country is open for business.”
At the same event, Pulai MP Datuk Nur Jazlan Mohamed called for the Sedition Act to retained.
“This statute should remain because our country is so diverse in terms of racial and religious composition that any spark can simply ignite a fire,” he said.
However, he emphasised that the Act should be used sparingly and fairly.
An example he pointed out was: “If lawyer Eric Paulsen can be charged, why not Perkasa president Ibrahim Ali?”