KUALA LUMPUR: The Investment, Trade and Industry Ministry (Miti) is conducting a cost-benefit analysis on the Agreement on Reciprocal Trade (ART).
Reiterating that the trade agreement with the US has yet to come into force, minister Datuk Seri Johari Abdul Ghani said the findings of the analysis will be taken into account in Putrajaya's decision on ratifying the agreement.
“At present, the Ministry is conducting a cost–benefit analysis of the agreement to examine the implications of its potential implementation,” he said in a parliamentary written reply dated Tuesday (Feb 24).
The government will consider these findings when deciding whether to ratify the agreement.
“The government remains committed to safeguarding national interests and ensuring that any implementation of the agreement does not affect existing policy directions or Malaysia’s economic security,” he added.
The agreement between Malaysia and the US was signed during President Donald Trump’s visit to the 47th Asean Summit and Related Summits in Kuala Lumpur in October last year.
He was responding to a question by Datuk Awang Hasim (PN-Pendang) on the latest status of the agreement.
