KUALA LUMPUR – The Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed has rejected President Donald Trump’s suggestion to renegotiate the Trans-Pacific Partnership (TPP) or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
He said, renegotiating the TPPA to make significant changes may be difficult as they have achieved a balanced deal for all parties involved.
He said, although Malaysia welcomes the United States (US) in rejoining the pact, the terms and conditions agreed in the CPTPP would need to be remained as all members have gone through a long negotiation process to ensure a balance benefit and interests of all parties involved.
The trade partnership which originally involved 11 countries including the US was thrown out by Trump days after he assumed his Presidency to ‘protect the interests of Americans’.
“Trump wants to reconsider the deal if it is ‘substantially better’ than the deal offered to Barack Obama.
“For Malaysia, we have gone through a very long and maximum journey.
“Malaysia will not make any additional concession in that agreement. Renegotiation will not only take a long time but also alter the balance of benefits for parties,” Mustapa said in his Twitter posting. -MalaysiaGazette