Mustapa: We can still withdraw from TPPA if it’s not beneficial

  • Nation
  • Monday, 18 Jan 2016

KUALA LUMPUR: Malaysia is still free to withdraw from the Trans-Pacific Partnership Agreement (TPPA) even after endorsing it next month.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysia could exit TPPA without having to pay any penalty as stipulated in Chapter 30 of the proposed agreement.

“If the agreement is detrimental to the country, we can always scram after giving six months’ notice,” he said during a briefing on the TPPA’s costs and benefits here yesterday.

Mustapa said this was to allay fears that the controversial deal would put Malaysia at the losing end.

“There are pros and cons. Compared to the time when the 12-page Pangkor Treaty was signed in 1874 where the nation was sold out (to British imperialism), we are smarter now.

“We make sure that TPP will be a win-win deal,” he said, adding that Malaysia was not being forced to endorse the TPP agreement drawn up by the United States with 11 other countries.

However, Mustapa said the 595-page TPP agreement that came with a 5,755-page appendix should not be viewed as “Aladdin’s magic lamp” that could strengthen the ringgit and the Malaysian economy.

“There is no guarantee that the ringgit will appreciate after signing the TPPA,” he said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Business , Government , TPPA , TPP , Mustapa Mohamed , withdraw


Next In Nation

Selangor Ruler expresses disappointment over outrageous comments on social media
Hotels not required to put up 'Non-Halal Lift' stickers, says Jakim
Job scams: 15 more victims brought home from Cambodia, Laos, six more arriving later
GE15: All component party machinery to move in Perikatan name, says Muhyiddin
MACC nabs 11, including four cops, over traffic summons discount syndicate
Over 470,000 undergrads applied for second phase of student device programme, says Noraini
Egg shortage to be discussed at Cabinet meeting Friday (Oct 7), says Annuar
Action already taken against suspects linked to abuse of Indonesian domestic worker, say cops
RM41mil allocated to build river wall along Sungai Tebrau to stop flash floods
Employers now have 10 hours to receive foreign workers, says Immigration DG

Others Also Read