KUALA LUMPUR: Malaysia will continue to consult all Trans-Pacific Partnership Agreement (TPPA) member countries on the possible dismantling of the agreement following Donald Trump's win of the US presidential elections.
International Trade and Industries Minister Datuk Seri Mustapa Mohamed said Malaysia has, over the last few hours, been in contact with its TPPA partners.
“We will continue to consult them (on the possibility that the Trump administration would dismantle the agreement),” he told reporters at the Parliament lobby today.
Mustapa said Malaysia has no ‘back up plan’ for the eventuality and noted that it was too early to rush to such preparations.
Asked if it was possible for member countries to pursue the agreement without the US, he replied in the negative.
“Without America, there is no TPPA. We need the nation that contributes to 85 per cent of the TPPA to make it happen,” he said.
He added that it was US's prerogative to cancel the agreement.
Mustapa said that if the agreement is canceled, it would affect the Malaysian economy to a certain extent as it gave the nation access to countries which it did not have trade agreements with including Canada, Mexico and Peru.
The minister however advised Malaysians not to jump to conclusions, as Trump has not even had his inauguration ceremony.