KUALA LUMPUR, Aug 1 (Bernama) -- A trade official has played down
public concerns over Malaysia's participation in the Trans-Pacific
Partnership Agreement (TPPA) negotiations, saying it is a positive move
that augurs well for the country's trading position in the international
marketplace.
Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=967760
Published: August 02, 2013
President of the Federation of Malaysian Manufacturers, Tan Sri Yong Poh
Kon, said Malaysia's participation in the talks would increase its
bargaining power in global trade.
"With the participation of other 11-member countries besides the US, it
would increase Malaysia's bargaining power as we are not only
bargaining with US but with other countries as well," he told Bernama at
the TPPA Open Day today organised by the Ministry of International
Trade and Industry (MITI).
The Malaysian public were generally concerned as to the extent the 21st
century trade agreement model of the TPPA could play an effective tool
in promoting fair trade and that Malaysia could be pressured to succumb
to a bigger political power.
MITI Policy and Strategy Division Director, Isham Ishak, said the TPP
will benefit Malaysia as it will provide access for products with free
duties and new investment.
While the TPP can open up new markets for Malaysian products through
liberalisation and reduced duties in products, there were also concerns
raised that Malaysia companies might not be able to compete with the
bigger players in the market.
In this respect, the need for capacity building among small and medium enterprises (SMEs) was raised at the Open Day.
Issues pertaining to the more expensive cost of medicines and difficulty in getting generic drugs were also raised.
An entrepreneur, requesting anonymity, said it would be beneficial for
entrepreneurs "as it can help enhance my networking and in the process
create more quality and competitive SMEs."
He said it could open new market opportunities for his company.
"TPP also encourages healthy competition. And as a consumer it can give
me more choices and at more reasonable prices," he said.
-- BERNAMA
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