Minister: Major GLCs need protection under TPPA….how about Rakyat?
State-owned firms such as Petronas and Malaysia Airlines Berhad (MAS) being subjected to certain “disciplines” under the Trans Pacific Partnership Agreement (TPPA), if signed, would be detrimental to national interests.
International Trade and Industries Minister Mustapa Mohamed said today that despite arguments that allowing SEOs to be subjected to international disciplines such as those in TPPA would be healthy for competition, the government considers such a move to be against national interests.
“Despite the arguments, the government’s position is that we need to protect our national interests, by ensuring the likes of Petronas, MAS, and Khazanah are not subjected to such disciplines,” he added during a media briefing session on TPPA today.
The SEO is one the chapters that Malaysia is having reservations about in the TPPA negotiations, and have asked for a carve out (a temporary delay in implementation) in the chapter.
Mustapa said that he hoped the TPPA negotiations could be wrapped up by the end of 2015.