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Malaysia’s Economic Development Must be Implemented in a Free and Fair Fashion

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SHAH ALAM, 8 Nov: The economic development in Malaysia still requires international investment and trade; however its implementation should be done freely and fairly.

Chief Minister Tan Sri Abdul Khalid Ibrahim said that over 60 percent of economic opportunities are still dependent on international trade due to the country’s small internal market since the Malaysian economy began to grow till now.

He said that the matter can be seen if we refer to the Trans-Pacific Agreement (TPPA) which is now in the process of negotiations with the federal government.

“Each person must accept the fact and agree that we cannot run away from making international trade relations and it looks like no one is objecting to it.

“However, it should be noted that although it is accepted, responsible parties should ensure the the trade agreement which is signed is fair to us,” he said.

He said this in front of about 100 participants comprising of state employees, government linked companies (GLCs) and local authorities at a TPPA Briefing event held here at the Silver Jubilee Hall today.

The TPPA Briefing session was presented by a three-member panel consisting of Professor Gus Van Harten (Canada), Pablo Solon (Bolivia) and Cecilia Olivet (Uruguay), and was also participated by Member of Parliament for Klang, Charles Santiago.

Commenting of the TPPA, Abdul Khalid said that the agreement which is to be signed by the Central Government early next year may also have an impact on the state government.

“For example, if the TPPA states that the awarding of contracts should be open to all, including multinational corporations, but the Selangor State Development Corporation (PKNS) gives the opportunity to Bumiputera entrepreneurs in the name of wanting to help the community, we could be sued.

“They can also take Selangor to court for failing to comply with the conditions set in the agreement and we might be sued and cause losses to the people,” he said.

Abdul Khalid, who is also the Member of Parliament for Bandar Tun Razak, hopes that the briefing held would provide knowledge to the public in understanding the effects of the TPPA, in addition to asking the Central Government to make a decision which will benefit the people.


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