KUALA LUMPUR – The Comprehensive and Progressive Agreement for Trans-Pacific Partnership’s (CPTPP) provisions must be refined to ensure the trade agreement is not only free but fair, said Warisan president Datuk Seri Shafie Apdal.
Provisions in the trade agreement, the Semporna MP said, must not contain provisions that can cause the country to simply be sued by multinational corporations.
“Trade policies to be finalised by the government must take into account the need to increase local equity ownership, and not prioritise foreign equity ownership,” he said in a statement today.
Thus, Shafie urges the government to postpone the implementation of CPTPP, so that the interest and recommendations of various parties can be considered.
“An in-depth study must be done to determine the pros and cons of the CPTPP with regards to the context of trade and investment in Malaysia,” he added.
Meanwhile, Shafie also touched on a meeting he attended with the Malaysian Malay Chamber of Commerce to discuss matters concerning the solidification of the Bumiputera economy in Malaysia.
Shafie said he is of the opinion that the economic strength of Bumiputeras in the whole of Malaysia must continue to be strengthened continuously, to ensure the economic gap between races can be narrowed down further.
Thus, Shafie mentioned he fully supports recommendations of close cooperation between Malay entrepreneurs in the peninsular and the Bumiputera community in Sabah and Sarawak.
“Although I view affirmative policies as necessary to ensure the interests of the Bumiputera community, it must be implemented equitably based on merit and accountability,” Shafie added. – The Vibes, October 26, 2021