KUALA LUMPUR: Malaysia will continue with the Trans-Pacific Partnership Agreement (TPPA) despite it failing to materialise, following the withdrawal of the United States in the pact.
Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said the government's decision to pull out from the pact would depend on the discussion with remaining nations.
“If the other 11 countries decide to continue with the pact then, we would continue without the United States,” said he said.
He said this in reply to Wong Chen (Kelana Jaya-PKR) who asked on the government’s current position on the TPPA and weather and the status of the amendment involving 18 laws, which would allow Malaysia’s entry into the pact.
“We will bring to parliament the 18 laws for amendments as it will be the best time for us to follow world standards,” he said.
“The amended laws will be updated for any future negotiations if TPPA fails. We are going with the amendments which include the Labour Consistency Plan (LCP),” Ong added.
LCP is established to refine and upgrade local labour laws in accordance with the TPPA Standards.
The TPPA was signed last year in New Zealand, was reported to be the biggest trade agreement in history involving Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
In January 23, US President Donald Trump signed an executive order to withdraw the North American country from the trade pact.
But in May, the remaining 11 countries agreed to continue with the deal without the participation of the US.
Earlier today in Danang, Vietnam, chief negotiators of the remaining 11 Trans-Pacific Partnership (TPP-11) countries including Malaysia met until midnight yesterday, hoping to agree on proceeding with the trade deal without the US. They failed to find it after two days of deliberation.
The TPP-11 trade ministers had agreed to move ahead without the US at a meeting in Vietnam in May, but asked their negotiators to look at what might need changing ahead of the meeting here.
Reports by TEH ATHIRA YUSOF, FARHANA SYED NOKMAN, AINA NASA