“The Trans-Pacific Partnership Agreement (TPPA)” & “Regulatory Impact Analysis (RIA)” ”
20 November 2013
Speaker: Pn. Che Mazni Che Wook & En. Megat Akbarruddin Megat Ismail
Venue: : PAM Centre, Kuala Lumpur
Synopsis:
The Trans Pacific Partnership Agreement is an initiative to establish an FTA among 12 countries with a market of 800 million people with a combined GDP of USD 27.5 trillion. Malaysia views the TPPA as an important initiative as Malaysia seeks to expand market access opportunities, enhance our competitive advantage and build investor confidence. The successful conclusion of the TPPA will form a huge duty-free market that far surpasses Malaysia’s limited domestic market of 29.5 million people. It will also significantly enhance Malaysia’s engagement with important trading partners such as the US, Canada, Mexico and Peru, which Malaysia has yet to establish any FTAs. As a member of the TPPA, Malaysia will also be able to increase our participation in the regional supply and value chains and facilitate access for Malaysian products and services into bigger markets.
A decision not to participate in the TPPA, will result in Malaysia be at a disadvantage in terms of seeking bigger and better market access for Malaysian products and services. The impact of that disadvantage will be even more significant should countries such as China, South Korea, Taiwan, Thailand and other competitors decide to join the TPPA later. In an increasingly competitive global environment, our absence from the TPPA will also make Malaysia less attractive as an investment destination, compared with other TPPA members. Investors’ perception of Malaysia will also be affected. As investors avoid Malaysia, this could result in less opportunities for job creation. Abandoning the TPPA negotiations now would mean allowing other countries to set the terms of the agreement without having to consider the interests and concerns of Malaysia. Acceding to the TPPA later would result in Malaysia having to accept the rules, disciplines and terms and conditions decided by others.
The TPPA is still under negotiations. There are safeguards taken by the Government to protect the interest of domestic service suppliers including architectural services.
Contact: PAM Secretariat +603-26934182 / cpd@pam.org.my
2 LAM CPD points have been applied
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