It is "irrational and irresponsible" to proceed with the Trans-Pacific Partnership Agreement instead of negotiating better deals through bilateral agreements with participating nations, said PKR MP William Leong.

The government yesterday said it would proceed with the TPPA despite US President Donald Trump's executive order to remove the US from the pact.

“It would be far better for Malaysia to negotiate bilateral free trade agreements with the remaining countries that serves the economic interests of Malaysians,” the Selayang MP said in a statement.

He said continuing with the TPPA would mean lowering trade barriers and changing domestic laws and regulations without corresponding benefits from the US market.

"The principal benefit of improved access to the US market to compensate for the burden and restrictions of the TPPA is gone,” he said.

Moody’s Investment Service (MIS) said potential trade deals between participating countries are unlikely to have the same impact as TPP.

MIS associate managing director Marie Diron said export-reliant countries like Vietnam, Malaysia, Brunei, and Mexico would have benefited greatly from the TPPA.

The TPPA was also a means of reform in participating nations to allow for trade, but MIS does not expect the reform measures that have been implemented in anticipation of the TPPA to be reversed.