KUALA LUMPUR: A former senior United Nations official and economist Jomo Kwame Sundaram said that the views presented on the Trans Pacific Partnership Agreement (TPPA) were rather one sided presently and it was important that the costs of the TPPA be also known rather than just the benefits.
He said on Monday that gains from signing the TPPA in terms of economic growth were only "very modest" because Malaysia is already an open economy.
"These were also based on very questionable assumptions. Having more trade does not mean more economic growth. You have to note that having more trade may mean you export more but the country will also import more. So the (net) trade gains are very modest and the economic growth (accrued) are very very low," Jomo said.
"However, there are huge risks involved because this is not just a trade agreement but more of a partnership agreement and most of the other requirements of the TPPA will introduce many constraints on the ability of Malaysia and others to catch up and accelerate growth and to develop the economy," he said.
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