Malaysia Not Sidelining China and Other Trade Partners Via Participation in TPPA

KUALA LUMPUR, Jan 26 (Bernama) -- Malaysia's participation in the Trans-Pacific Partnership Agreement (TPPA) does not mean the sidelining of trade partners as China, ASEAN or Islamic countries, says International Trade and Industry Minister Mustapa Mohamed. Under Malaysia's foreign policy, ASEAN is a priority for the country in respect of forging trade relations, while China and other countries have equal importance, he said. "The participation in the TPPA does not mean we are choosing the United States and sidelining trade relations with the other countries. "This is an incorrect perception," he added, when tabling the motion to decide Malaysia's participation in the TPPA at a special two-day Parliamentary sitting from Tuesday. Mustapa also said the participation in the TPPA did not infer that Malaysia was also sidelining the World Trade Organisation (WTO). He said Malaysia was still convinced that the WTO is an important platform to enhance trade relations between nations. The WTO has 162 member countries and its initiatives such as the Doha Development Agenda (DDA), from 2001 to date, has yet to yield results. Mustapa said Malaysia could not wait for the DDA to end before becoming involved in any Free Trade Agreement (FTA). "It would not be a wise move. If we are to wait until the DDA ends, we would not get to sign even one new FTA. "As such, those who say that we (Malaysia) should not sign the TPPA and continue to be involved in the WTO, do not understand international trade," he added. He said in facing the TPPA, Malaysia and the government needed to be brave in taking what may be an unpopular step over the short term. Mustapa expressed his concern that if Malaysia took an outdated, closed, anti-foreign investment and anti-trade approach, the country would be left behind and lose out. "I am afraid Malaysia will regret it, if it did not participate in the TPPA, as investors will see countries as Vietnam being a more attractive investment destination. "We do not want our country to be overtaken by Vietnam or other neighbours," he added. Mustapa said in practicing openness, it did not mean that Malaysia ignored all else with any control or restrictions. The open policy practiced is in line with the Federal Constitution, protects Bumiputera rights, bridges the gap between rich and poor, as well as reduce the gap between the developed and less developed nations, he added. -- BERNAMA