This is in response to the Letter to the Editor “Do We Gain by Signing the TPPA?” which was published in The Star on 24 July 2013 (Wednesday), page 46.
The TPP will indeed create a huge market of 800 million people with a combined GDP of USD27.5 trillion for Malaysian goods and services, far surpassing the domestic market of 29.5 million people and a GDP of USD 300 billion. Not only will the TPP expand market access opportunities and enhance our competitive advantage, it can also build investor confidence in the country. There is already interest from foreign companies in non-TPP countries that are exploring Malaysia as a base of their operations to enjoy the benefits of the TPP. The combination of greater market access for Malaysian products and services under FTAs and the continued influx of foreign investments will create a powerful catalyst in driving Malaysia’s economic growth.
It is wrong to say that there is no support for the TPP. While there have been groups like the Malaysian Trades Union Congress (MTUC) and the Malaysia Economic Action Council (MTEM) who have opposed the TPP, there have also been voices of support coming from local industry associations like the Federation of Malaysian Manufacturers (FMM), Malaysia International Chamber of Commerce and Industry (MICCI), Malaysian Textiles Manufacturers Association (MTMA), the National ICT Association of Malaysia (PIKOM) and the Malaysian Ceramic Industry Association among others.
As an open economy Malaysia is highly-dependent on international trade. Abandoning the TPP negotiations now would mean allowing other countries to set the terms of TPP without having to consider the interest of Malaysia. This would put Malaysia at a disadvantage in terms of seeking bigger market access for Malaysian products and services. The impact of that disadvantage will be more significant should our competitors join the TPP. In an increasing competitive global environment, our absence from this partnership will make an open economy like Malaysia less attractive as an investment destination compared with other APEC economies.
You are invited to attend the Trans-Pacific Partnership (TPP) Open Day which is scheduled on 1 August 2013 at MATRADE Exhibition and Convention Centre. The objective of the Open Day is to:
- update you on the 18th round of negotiations held here in Malaysia;
- clear some misconceptions about the TPP;
- explain the rationale for Malaysia's participation; and
- hear the concerns of the public towards the TPP.
This is your opportunity to engage with the negotiators directly especially during the break-out sessions and obtain answers to your questions. Detailed Information on the programme and registration is available on the Ministry of International Trade and Industry (MITI) webpage www.miti.gov.my.
Ministry of International Trade and Industry
Kuala Lumpur, Malaysia
24 July 2013
Last Updated 2015-07-21 11:05:27 by vox vox