Malaysia to reconsider TPP-11
June 12, 2018: Malaysia’s new Prime Minister, Dr Mahathir, last Friday made a brief but stunning statement in a media conference in Japan that he will review the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or TPP-11.
Dr Mahathir said he believes weaker economies like Malaysia are at a disadvantage under the current terms, "It is important to take into consideration the level of development of a country."
He said Malaysia would have little to sell and much to buy in a purely free trade environment. "Small, weaker economies must be given a chance to protect their products," he said.
Dr Mahathir’s remarks reflect strong community opposition to the TPP-11 in Malaysia.
The TPP-11 will take effect once ratified by at least six member countries, which requires passage of the implementing legislation by parliaments. So far, only Mexico has ratified the agreement.
In Australia, there are currently two parliamentary inquiries which will report before Parliament votes on the implementing legislation, a joint committee dominated by the government and a Senate inquiry achieved through community campaigning, on which the government does not have a majority. AFTINET is campaigning for the majority of ALP, Greens, Centre Alliance and others to block the implementing legislation. See more information here.