The PwC report states that in terms of elimination of tariffs (which is a certainty), the difference between signing and non-signing the TPPA is a mere 0.22% differential in GDP growth. In the best case scenario where Non- Tariff Measures are reduced by 50%, of which the basis for these projections are dubious, the difference between signing and non-signing the TPPA is the GDP will grow 1.15% per annum and export will grow by 0.9%. However the so called “best scenario” from signing compared to not signing will result in a 30% DECRASE in trade balance.
The PwC report therefore does not support any economic “game changer” outcome for Malaysia from signing the TPPA. In fact, signing it will retard and decrease our trade balance. Increasing trade balance must surely be the primary objective of any trade agreement.
We are all aware that the TPPA is not a normal FTA. It is an agreement of 6,000 pages where only 6 out of 30 chapters deals directly with trade. It is an agreement that interferes with the sovereign rights of a nation. It is called a modern 21st century “trade agreement” but the offer is in fact as old as time. It offers a Faustian bargain of wealth in return for allegiance to an economic system.
What wealth is being offered to sell our Malaysian soul? The PwC report states not much, just a few lousy dollars.
If money is not the motivator for Malaysia then geo-politics must surely be the driving factor. What are the geo-political gains from signing the TPPA?
YB Wong Chen
Member of Parliament for Kelana Jaya