PUTRAJAYA has yet to decide whether Malaysia will ratify the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), the Dewan Negara heard today.

Deputy International Trade and Industry Minister Dr Ong Kian Ming said more time is needed to assess the clauses as CPTPP is “complex and comprehensive”.

“The commitments agreed under CPTPP have a significant impact on some laws, policies and regulations, including those under the jurisdiction of state governments.

“It is the government’s responsibility (to ensure) that every free trade agreement it signs emphasises free and fair trade, in line with the government’s aspiration to implement national development policies that will lead to economic benefits that can be distributed to target groups,” he said during the question-and-answer session.

He was replying to Senator Chai Kim Sen, who wanted to know the free trade agreement’s status.

To a supplementary question by Chai on whether the CPTPP impact assessment will be made public, Ong said it will be made so “at some point”.

He said a study to evaluate whether the pact will have positive or negative effects on Malaysia is being conducted by government agencies and civil groups.

CPTPP is a renegotiated trade deal borne out of the Trans-Pacific Partnership (TPP) agreement after the US pulled out from the latter deal.

The revised pact was signed by the remaining 11 TPP member countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam on March 8.

Malaysia and three other nations – Brunei, Chile and Peru – have yet to ratify the agreement. – Bernama, July 24, 2019.