Assalamualaikum, hey guys.
I've been long time not update my blog. So today, I want to share with you guys about something new for me which is Trans-Pacific Partnership Agreement (TPPA). Actually, I don't really understand about this issue, but I will tell you all based on what I have read in newspaper and online sources.
WHAT IS TPPA?
TPPA is a “free trade” agreement currently under negotiation between Asia-Pacific countries such as Australia, US, New Zealand, Canada, Mexico, Chile, Brunei, Malaysia and Vietnam. TPPA is one of the liberalization of the market in which the member states are free to do business in a member state in the open market with the concept of globalization. This agreement started as Trans-Pacific Strategic Economic Partnership agreement between Brunei, Chile, Singapore and New Zealand that came into force on 1st May 2006.
In 2008, United States expressed their interest in entering into talks with the four countries to liberalize trade in financial services and Australia, Vietnam and Peru followed suit. Malaysia joined in 2010, and in 2012 Canada and Mexico were joined into that talks.
The problem with this agreement is all deliberations of TPPA was made in secret and all text of that discussion has been secret until four years after the agreement was signed. when asked why need to be secret, then the government said this agreement is good for the country because we make it easier for our goods to enter into foreign markets.The question is, if TPPA is so beneficial, why the text of the agreement that is being negotiated was not presented to the public? Why need to be secret?
For your information, this agreement have some negative impacts that we need to know:
1) Almost 80% of the price of medicines will be expensive, it can be reach until 1000% from current prices. This is because of the generic medicines that was more cheaper cannot be sold anymore as Malaysia was bonded using patented medicines that produced by pharmaceutical companies from abroad. The effect will be difficult for the patients that have low and middle income because the cost to get the medicines will be very high. What is the fate of many people in our country later?
2) The government can be sued by foreign investors in the international tribunal based in Washington and Geneva if there are government policies that could harm the rights of foreign investors and hinder their commercial activities. It certainly affect the government's jurisdiction in determining what is best for the people and the country.
I think, that's all for today. Lastly, I want to apologize if I have misunderstand about this issue.
