Broad Outline Of TPP To Be Presented To Leaders On Nov 12

KUALA LUMPUR, Nov 8 (Bernama) -- The Trans-Pacific Partnership (TPP) Agreement is currently in the text-based negotiation stage and the broad outline will be presented to leaders attending the 19th Asia Pacific Economic Cooperation (APEC) Economic Leaders' Summit in Honolulu, Hawaii, on Nov 12 and 13. International Trade and Industry Minister Mustapa Mohamed said the nine-member participation had deliberated specific issues, including specific tariff reductions. The TPP also discussed issues that were sensitive to Malaysia such as government procurement, labour and environment. Mustapa said it was not only important for Malaysia to come onboard the TPP, which was a very big market, but, also negotiate for flexibility on these issues. "When we decided to be part of the negotitation, we knew upfront what the challenges were and prepared for all these. We negotiated the best chance to protect the national interest," he told a press conference on the upcoming APEC Economic Leaders' Meeting and APEC Ministerial Meeting here on Tuesday. "Labour (issue) for example, we have to make sure that every issue we discuss is consistent with our laws. In environment, we are mindful of the need to protect the environment, but of course in the West, the standards are probably too ambitious, that is why there's a need for some compromise. "As for government procurement such as our Bumiputera policy, two to three years ago, we did not agree to discuss this at all," he added. On trade agreement with the United States, Mustapa said engagement on TPP gave Malaysia the opportunity to discuss several issues. "In the past 18 months we have been discussing with them a number of issues either in the context of Asean and TPP. "We're getting them to understand our protection policies. The issue here is threshold. How much do we want to open for free competition and how much is there for the locals," he said. -- BERNAMA Malaysia