Malaysia's policymakers prepare for TPP agreement pending ratification by US Congress

PETALING JAYA: Ministry of International Trade and Industry (Miti) Secretary-General Tan Sri Rebecca Fatima Sta Maria declined to speculate the possible ramifications should the United States Congress rejects the Trans Pacific Partnership Agreement (TPP).

“There is a lot of noise (on this issue). We have to see what happens, I am in no position to second guess what will happen (in US),” she added when asked by reporters at the World Bank Conference today.

The conference was jointly organised by the Latin America and Caribbean Chief Economist Office and the Development Research Group in Kuala Lumpur.

She said the TPP team will be meeting at Lima, Peru to discuss issues relevant to the TPP deal, and will likely touch on the issues and concerns raised by the public and the parties concerned.

Meanwhile, she said the Malaysian government has made a cabinet decision to set up TPP implementing committee at the government level.

“The process (preparation for TPP's implementation) has to move on regardless,” she said.

She added that the committee needs to have regular meetings with implementers to look at the regulatory framework, laws and processes required for TPP.

She said Miti will be chairing a meeting with the ministers involved in TPP's implementation next week to ensure the process of TPP's implementation is on track.

Also present were Bank Negara Malaysia (BNM) deputy governor Sukhdave Singh, director of the economics department Fraziali bin Ismail, World Bank's country manager for Malaysia Faris Hadad-Zervos and others.