Pacific trade pact talks to enter final phase next year, says Najib

Source: The Malaysian Insider

11 Nov 2014

Prime Minister Datuk Seri Najib Razak said that the final talks of the Trans-Pacific Partnership will begin early next year, and top on Malaysia’s list would be the Bumiputera agenda and government-owned companies. – The Malaysian Insider pic, November 11, 2014.

Prime Minister Datuk Seri Najib Razak said that the final talks of the Trans-Pacific Partnership will begin early next year, and top on Malaysia’s list would be the Bumiputera agenda and government-owned companies.

All 12 countries involved in the Trans-Pacific Partnership (TPP) have agreed for the final round of negotiations to be held early next year,said Prime Minister Datuk Seri Najib Razak.

Bernama, however, reported that leaders involved in the TPP negotiations, being held on the sidelines of the ongoing Asia-Pacific Economic Cooperation summit in Beijing, agreed that the negotiations were subject to several factors.

The meeting was chaired by US president Barack Obama.

“I informed them that we have several sensitive areas which are close to our internal policies.

“Top among them is the Bumiputera agenda and government-owned companies. We want the 12 countries in the TPP to allow flexibility for Malaysia’s request to be considered,” Najib told Malaysian journalists yesterday.

The TPP negotiating countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, US and Vietnam.

Bernama quoted Najib as saying if this was possible, then Malaysia would be able to negotiate for a “TPP agreement that is on our terms”.

“The timeline is rather tight but we will try. If we are unable (to reach a decision) than we will look at further developments. I expect negotiations to be intensive in the next few months.”

Najib also said Malaysia’s commitment must be endorsed by the Dewan Rakyat.

On the Apec Business Advisory Council (Abac), Najib said discussions centred on trade liberalisation, Free Trade Area of the Asia-Pacific (FTAAP), small- and medium-enterprises and women empowerment, infrastructure development and finance and, the Asia Pacific Financial Forum (APFF).

“I highlighted potential areas where Malaysia can support the APFF that is through capital market, public private partnership and sukuk issuance”, he said.

Bernama reported that Najib also shared Malaysia’s initiative in facilitating financing for SMEs beyond the conventional mode like micro finance, venture capital and government schemes.

He highlighted policy measures undertaken by Malaysia to empower women through their increased participation in decision-making, access to capital, and enhancing capacity and skills. – November 11, 2014.

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