The Prime Minister was urged to withdraw the ratification of the CPTPP agreement

PUTRAJAYA: The new government led by Prime Minister Datuk Seri Anwar Ibrahim is being urged to withdraw the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) before this Tuesday.

The insistence was made by 24 economic experts, 57 non-governmental organizations (NGOs), 10 trade unions and more than 50 individuals after discovering that the ratification agreement would have a major impact on the country’s economy.

Senior Fellow of the Malaysian Malay Chamber of Commerce (DPMM), Azlan Awang, who acted as the group’s spokesperson, said the ratification would come into effect on November 29.

He said that his side found the content of the CPTPP ratification agreement more complex and like a ‘trap’ for the national economy.

“Currently, Malaysia already has a free trade agreement (FTA) with seven countries and eight FTAs ​​through ASEAN and it is sufficient to increase the Gross Domestic Product (GDP).

“The existing FTA has also helped the country achieve better export performance even without the CPTPP,” he said when met after sending a memorandum to the Prime Minister’s Office, here today.

He said, his side understood that the agreement also affected government procurement, restricted the role of government-linked companies (GLCs) and limited GLCs’ opportunities to compete with multinational companies.

In the meantime, Azlan said, he thinks that the ratification will make it difficult for the Unity Government to implement the pro-people policy and manifesto if it continues.

Therefore, he said, his party wants the Anwar-led government to delay the participation of the CPTPP for the time being by withdrawing the notice ratifying the CPTPP before November 30.

“We also want the government to establish a committee made up of academics and local economic experts to review Malaysia’s participation in the CPTPP.

“After the study is done, the committee presents the results of the study in the Dewan Rakyat so that it can be discussed in depth before any further decisions are taken,” he said.

Previously, the Minister of International Trade and Industry, Datuk Seri Mohamed Azmin Ali acted to send a letter of ratification of Malaysia’s full participation in the CPTPP agreement.

The letter of participation was sent four days before Parliament was dissolved early last October. – MESSENGER

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