Friday 29 Mar 2024
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(June 22): Malaysia needs to state its stand on the contentious Trans-Pacific Partnership Agreement (TPPA), said PKR, following reports that US President Barack Obama will make a second visit to the country this November for the 27th Asean Summit.

PKR youth chief Nik Nazmi Nik Ahmad questioned Obama's greater interest in Malaysia and the region and asked if it could be due to a need to drum up support for the trade agreement.

Last month, the Obama administration failed to secure the United States Senate's support for fast track authority to negotiate the TPPA.

"Obama's failure to even convince members from his own ranks, the Democrats, to support the deal even though they stand to benefit greatly from the deal, should provide enough indication for Malaysia not to continue with it.

"The Malaysian government must therefore make a stand on its commitment, whether it is happy to play into the hands of the US and its big multinational corporations, or if it will do the right thing and uphold the sanctity of the country's sovereignty," Nik Nazmi said in a statement today.

He said Obama's continued push for the agreement, which until now has been negotiated in almost total secrecy, raises questions on his exact intention.

"The TPPA is a lopsided agreement benefiting mega transnational companies while calling into question the national sovereignty of countries like Malaysia as well as our public health and internet freedom," he said.

Obama last visited Malaysia on April 26 last year, becoming the first serving US president to do so since Lyndon B. Johnson in 1966.

The US is also paying greater attention to the region as part of Obama’s “pivot” to Asia policy.

The TPPA negotiation process, which has been ongoing for the last five years, is expected to be completed by the first half of 2015.

The TPPA is a free trade agreement initiative among 12 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam, involving a market of 800 million people with a combined gross domestic product worth US$27.5 trillion (RM102.83 trillion).

More than 100 discussions and negotiations were held over the last few years by the International Trade and Industry Ministry to increase the level of understanding on the contents of the negotiations.

As of April this year, negotiations for 10 out of 29 chapters of the TPPA had been finalised while 10 were in the process of finalisation and nine others still needed more efforts in areas such as international property ownership rights, environment, state-owned enterprises, investment as well as financial services. – The Malaysian Insider

 

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