Prime Minister Datuk Seri Najib Razak says Malaysia still has much to do after the Trans Pacific Partnership TPP countries revived the free trade pact.
Trade ministers from 11 countries today reached a deal to proceed with the TPP that was in doubt after Canadian Prime Minister Justin Trudeau’s no-show prevented the leaders from a vital meeting on Friday afternoon to endorse a plan.
The 11 TPP ministers and their chief negotiators did it by suspending 20 provisions of the original deal, some of which related to protecting labour rights and the environment, although most dealt with intellectual property.
The TPP has also been renamed the Comprehensive and Progressive Trans Pacific Partnership, or CP-TPP.
Speaking at a press conference after the conclusion of the APEC leaders’ summit, Najib said there was still more work to be done to ensure that Malaysia gets the best deal for its people.
“(Once the TPP is signed) there’s a moral commitment among the 11 countries after this.
“There will be work programmes to be done and Malaysia of course continues to maintain that we have to address our sensitive social economic policies such as Bumiputera preferences and measures for public health.”
Senior ministry officials said Malaysia, together with other member countries, had succeeded in getting the suspension on some of the provisions in the original agreement.
This included provisions related to medicine, particularly the extension of patent terms and protection of biologics and intellectual properties.
Meanwhile, the TPP ministers in a statement said that an accord was reached on “core elements” of the pact.”
Ministers are pleased to announce that they have agreed on the core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership,” they said in the statement.-NST