MARKET DEVELOPMENT
Lawmakers To Decide on TPPA, Says Mustapa
Lawmakers To Decide on TPPA, Says Mustapa
21/10/2015 (The Star) - It will be up to lawmakers to decide if Malaysia is to be part of the Trans-Pacific Partnership Agreement (TPPA) when details of the pact are tabled in Parliament for debates, said Datuk Seri Mustapa Mohamed.
"Though the agreement was concluded, there are still technical issues that need to be ironed out.
"Once completed, we will table it in Parliament to allow lawmakers to decide if Malaysia is to be part of the TPPA," said the International Trade and Industry Minister in reply to a question by Dr Noor Azmi Ghazali (BN-Bagan Serai) at the Dewan Rakyat on Tuesday.
Mustapa said his ministry was in daily contact with the TPPA secretariat to finalise the technical issues.
He said the cost benefit analysis, which is being finalised, will also be presented to lawmakers.
"We expect the TPPA to be tabled in Parliament in three months' time after the Budget session and we will seek a date for the purpose from the Speaker following discussions," he added.
He also said that the details of the TPPA would be made public.
Mustapa acknowledged concerns over Malaysia's inclusion in the TPPA which involves 11 other countries.
"I am not saying that the TPPA will be all rosy and good as there will be challenges.
"However, we are confident that the nation would benefit from it," he said.
He reminded lawmakers that Malaysia was the world's 23rd largest trading nation and the TPPA would open up news markets while abolishing export tariffs on a variety of goods.
He cited that businesses here would benefit from the abolition of tariffs between 2% and 11% for wood products, palm oil, rubber, auto spare parts, electrical and electronic goods exported to the US, Canada, Mexico and Peru.
Asked by Siti Zailah Mohd Yusoff (PAS-Rantau Panjang) on TPPA’s impact on religious sensitivities here, Mustapa assured that the issues were resolved.
"The TPPA will not threaten the status of Islam as the official Federal religion of the country," he said, adding that Malaysia's halal accreditation would be recognised.
On the impact of TPPA on small and medium enterprises, Mustapa said measures were being taken to prepare the sectors that may face competition under the deal.
"Though the agreement was concluded, there are still technical issues that need to be ironed out.
"Once completed, we will table it in Parliament to allow lawmakers to decide if Malaysia is to be part of the TPPA," said the International Trade and Industry Minister in reply to a question by Dr Noor Azmi Ghazali (BN-Bagan Serai) at the Dewan Rakyat on Tuesday.
Mustapa said his ministry was in daily contact with the TPPA secretariat to finalise the technical issues.
He said the cost benefit analysis, which is being finalised, will also be presented to lawmakers.
"We expect the TPPA to be tabled in Parliament in three months' time after the Budget session and we will seek a date for the purpose from the Speaker following discussions," he added.
He also said that the details of the TPPA would be made public.
Mustapa acknowledged concerns over Malaysia's inclusion in the TPPA which involves 11 other countries.
"I am not saying that the TPPA will be all rosy and good as there will be challenges.
"However, we are confident that the nation would benefit from it," he said.
He reminded lawmakers that Malaysia was the world's 23rd largest trading nation and the TPPA would open up news markets while abolishing export tariffs on a variety of goods.
He cited that businesses here would benefit from the abolition of tariffs between 2% and 11% for wood products, palm oil, rubber, auto spare parts, electrical and electronic goods exported to the US, Canada, Mexico and Peru.
Asked by Siti Zailah Mohd Yusoff (PAS-Rantau Panjang) on TPPA’s impact on religious sensitivities here, Mustapa assured that the issues were resolved.
"The TPPA will not threaten the status of Islam as the official Federal religion of the country," he said, adding that Malaysia's halal accreditation would be recognised.
On the impact of TPPA on small and medium enterprises, Mustapa said measures were being taken to prepare the sectors that may face competition under the deal.