The US ambassador to Malaysia expects the TPPA to be concluded next month in Bali despite the International Trade and Industry Ministry saying Malaysia is not bound by any fixed timetable.
“The final meeting on the TPPA will be held in Bali in October and representatives from all 12 participating countries, including Malaysia, are expected to take part.
“Our goal is to conclude the TPPA discussions next month. I think there is a consensus in favour of TPPA,” Yun told reporters at the US embassy here.
But the International Trade and Industry Ministry (Miti) had said last month that Malaysia’s participation would not be bound by any fixed timetable, because many issues remain unsolved.
“The Cabinet is unanimous in reinforcing Malaysia’s position that we will only agree to the TPPA with terms that are favourable to our country,” the ministry said in a statement last month.
But Yun is optimistic that despite the ministry’s stance, the negotiations will be concluded by next month.
“All countries have issues but we will try to reach an agreement for the future.
“We list out the problematic areas and try to give and take to turn this pact into a blueprint for trade investment,” he said.
He also dismissed criticism that the TPPA was an attempt by the US government to colonise Malaysia and other participating countries.
“TPPA is an agreement to create jobs and economic wealth. We are moving towards increasing trade and there is no political agenda.
“It is about looking towards the future,” he said.
He added that according to think-tank International Institute of Economics, the two countries that would benefit most from the TPPA are Vietnam and Malaysia.
The TPPA is a multi-lateral trade agreement that the United States – the leading negotiator in the talks – hopes will serve its role in developing a broader platform for trade liberalisation in the Asia-Pacific region.
Malaysia is negotiating with Australia, Brunei, Canada, Chile, Mexico, New Zealand, Peru, Singapore, the US, Vietnam and Japan to conclude the TPPA.