Prime minister said Malaysia looks forward to the completion of the Trans-Pacific Partnership Agreement (TPPA) possibly by year-end on terms acceptable to the country.

"We will try because earlier the target was to complete it by the end of last year but at the East Asia Summit in Bali, I said it was not possible, the TPPA cannot became a reality, as such we are hoping to reach an agreement by the end of this year," Najib Abdul Razak said.

Najib was speaking to reporters after his keynote speech presented at the Nikkei 20th International Conference on the Future of Asia 'Rising Asia: Messages for the Next 20 Years' in Tokyo today.

This is Najib’s second appearance as a keynote speaker at the Nikkei conference. His first was at the 17th Nikkei Conference in 2011.

However, Najib, who is also finance minister, said if the year-end date cannot be met, Malaysia would continue with the negotiations as the deadline was not important but the contents of the TPPA were.

He said the aim of the TPPA was to achieve two main objectives  of expanding trade and market access in terms of economic and investment growth and secondly to uphold the country's sovereignty based on current principles.

"We will hold to these two principles and I do not want them to be jeoparised because of the TPPA," he said.

In this context, the prime minister directed Malaysian negotiators to negotiate for a "TPPA that is on our terms".

Asked on the people's perception of the TTPA, Najib explained that they have not been informed as the agreement was still being negotiated.

"If a TPPA is reached and completed, only then will we reveal the contents. Although Mustapa Mohamed (international trade and industry minister) has had many engagements with various quarters to explain the TPPA principles, we still have to wait for the entire process to end," he said.

Najib said as soon as the negotiations are completed, the people would be informed of its contents and it would be presented in Parliament for endorsement.

‘The opposition will oppose everything’

He also did not deny that the TPP negotiations were being politicised.

“Of course, that is the work of the opposition, they will oppose everything. What is good for the people they will oppose but there are times when you can only see the benefits in the long term,” Najib added.

The TPPA is an free trade agreement involving 11 countries namely Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, United States and Vietnam.

Earlier in his keynote address, Najib said TPP would strengthen the country’s ties with the wider world; as would the Regional Comprehensive Economic Partnership, which would bring three of the largest economies into the world’s largest trading bloc.

“In an interdependent global economy, the benefits of greater co-operation extends far beyond Asia’s borders,” he added.

The conference was organised by well-known international media group Nikkei Inc of Japan.

Present was Singapore Prime Minister Lee Hsien Loong and President and chief executive officer of Nikkei Inc, Tsuneo Kita.

- Bernama