KUALA LUMPUR (July 18): The Trans-Pacific Partnership (TPP) Agreement is still open to some negotiation and final options are expected to be considered by November this year, according to International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Mustapa said hopefully there would be a decision alongside with the Asia-Pacific Economic Cooperation (Apec) meeting in Manila.

"In November there is an Apec meeting in Manila. We will be meeting leaders and ministers dealing with TPP Agreement and [there] might be a decision there," Mustapa said.

He was speaking to reporters at a press conference after officiating Asian Strategy & Leadership Institute (ASLI) 3rd National Economic Summit today here.

The summit, jointly organised by ASLI and Malaysian Economic Association, was themed "Economic Reforms — Reaction, Impact, Priorities and Opportunities".

The conference underpinned the need for reconsolidation and regeneration of investments into the region to enable Malaysia to regain its competitive edge and to sustain economic resilience and unleash competitiveness and productivity for inclusive growth.

Mustapa said Malaysia remains open to changes to the TPP Agreement mooted by other participating countries.

"My ministry and the Malaysian team fought hard for [a] fair deal that was in the best interest of Malaysia while also adhering to the principles of fair and open trade," he said.

The fate of the 12 members of TPP Agreement, which was painstakingly negotiated over more than five years, is now uncertain and some say it is dead.

"With the withdrawal by US President Donald Trump's administration, the other signatories are now looking at options to bring the agreement into force," Mustapa added.

The TPP Agreement was signed by Malaysia and 11 other parties on Feb 4, 2016.

The agreement under the present conditions for entry into force cannot take place without US participation, as it accounts for about 60% of the combined gross domestic product (GDP) of 12 members.

Under the TPP Agreement, a minimum of six countries accounting for 85% of combined GDP of the 12 members must be ratified before the agreement can come into force.

Meanwhile, Mustapa said that for now, the focus is more on the Region Comprehensive Economic Partnership (RCEP), which could be finalised early next year.

The RCEP is a grouping of 16 countries with Asean as the main driver.

"Some progress towards achieving substantial conclusion has been made and this will be further discussed at the next meeting," he said.