TPP to be debated in parliament, says Najib

BALI - Malaysia's concerns over the proposed Trans-Pacific Partnership (TPP) agreement will be brought before the people via Parliament, Datuk Seri Najib Tun Razak said.

The Prime Minister said TPP issues, besides being discussed in the Cabinet, would be debated in the Dewan Rakyat before a final decision was made.

He said that while the TPP agreement deadline had been set for December, the government was of the view that an extension should be sought due to the concerns that have been raised.

Najib said he had informed representatives of the 12 countries in the TPP which met here yesterday of Malaysia's good track record in trade and investment, and that foreign investors were happy with Malaysia's policies.

"But I told them that we needed to study issues of national sovereignty and our right to decide on domestic policies.

"We have a certain stand on matters like government procurement, state-owned enterprises, investor-state dispute settlements and intellectual property rights.

"We will not sacrifice our national interests when we agree on the final points of the TPP text," he assured Malaysian journalists covering the 21st Apec Economic Leaders Meeting conference being held here.

The PM stressed that there were lots of positives for Malaysia joining the TPPA, as Malaysian companies could enjoy a huge consumer market of 800 million people and more jobs would be available to Malaysians.

The TPP, proposed by Singapore, Brunei, Chile and New Zealand in 2005, gained a strong momentum after the United States gave support three years later.

The agreement is an initiative to establish a Free Trade Agreement among the 12 countries of the Asia-Pacific region and is open to other Apec economies.

Meanwhile, Najib described the Apec meeting as a success in strengthening the resolve of the leaders of the countries involved to increase trade and investment, liberalise tariffs and increase connectivity.

Najib said the leaders had agreed on seven strategic points in the 2013 Bali Declaration.

"We agreed to improve connectivity within Apec, involving institutional and people-to-people connectivity that can help to reduce the cost of doing business.