M'sia Backs Japan, Canada, Mexico Participation In TPP Negotiations

KUALA LUMPUR, Feb 14 (Bernama) -- Malaysia supports the entry of Japan, Canada and Mexico in the Trans-Pacific Partnership (TPP) negotiations as their participation will potentially expand regional trade, said Malaysian International Trade and Industry Ministry Mustapa Mohamed. He said it made sense for one of the largest economies in the world, Japan, as well as Canada and Mexico, which have signed the North American Free Trade Agreement with the United States, to be part of the negotiation process. "It would not delay the current process of TPP negotiations, that's our wish," he told a press conference after a bilateral meeting with Canada's Trade Minister Ed Fast, here Monday. "Whoever comes at the later stages would have to accept whatever agreed thus far. And that's for them to decide... what have been agreeable by all nine countries. "Under current procedures, any country which has expressed interest to be part of the negotiations need unanimous approval of all nine countries," the minister said. The three countries had expressed interest to join the TPP negotiations in November last year. Mustapa said a further meeting on bilateral ties including the TPP between Malaysia and Canada was also set next week. "We have given our support in principle to Canada to join TPP," the minister said, adding that officials from both Mexico and Malaysia had recently met to discuss the matter. Asked on the TPP negotiations, he said they were progressing well. "The 11th round of TPP negotiations will be held in Melbourne, Australia in March. Then, there will be another five rounds of negotiations, with the last one in December this year." Hopefully, TPP members could get some direction and achieve "substantial agreement" in all areas of the agreement by end of this year, the minister said. Mustapa said he also expected bilateral trade between Malaysia and Canada to increase if the latter's intention to join the TPP negotiations is realised. Canada is one of the developed countries with a lot of mineral resources but Malaysia managed to secure only less than US$2 billion in trade last year. --BERNAMA