KUALA LUMPUR (Nov 9): The final decision on whether or not Malaysia will take part in the Trans-Pacific Partnership (TPP) agreement following the United States’ withdrawal from the trade deal, will depend on the consensus of the 11 remaining TPP countries (TPP-11), the Ministry of International Trade and Industry (MITI) said today.
 
“For us (Malaysia), if the remaining 11 countries have the determination to press ahead with the trade deal, we will follow suit,” Second MITI Minister Datuk Seri Ong Ka Chuan told the Dewan Rakyat. “And if all or majority of them decide not to, then there is no point for Malaysia to pursue the deal on its own. We follow the consensus.” 
 
On Jan 23, U.S. president Donald Trump formally announced the country’s retreat from the TPP. The remaining member countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
 
Discussions on the trade agreement are being held among the heads of all 11 countries during the ongoing Asia-Pacific Economic Cooperation (APEC) meeting in Da Nang, Vietnam.
 
“The U.S., being one of the largest economies in the world, was an important driver of the TPP, and without it, the impact or influence of the trade deal would be different. But because the TPP is an FTA (free trade agreement) that has a fairly high level of quality, it would be a waste if Malaysia leaves it behind,” Ong said.
 
“So at the APEC meeting which is ongoing as we speak, the chief negotiators of the other 11 countries will discuss and find a way to implement the TPP without the U.S. I can’t say if there will be a definitive decision, but they will try to find a solution,” Ong added.
 
Meanwhile, Ong said the 18 laws which were being amended to meet the requirements of the TPP pact will be brought forward to Parliament, even if the deal falls through. He said this includes the Labour Consistency Plan (LCP).
 
“We will update the amended laws for any negotiation in the future, if the TPP fails. At least with the updates and amendments, when Malaysia decides to take part in any negotiation going forward, we will be ready,” Ong added.