Thursday, 31 December 2015

Tun Mahathir - TPPA 

Tun Mahathir - TPPA 

1. The Government could not care less for whatever opposition that is voiced by anyone in Malaysia or abroad against signing the TPPA. It will go ahead and sign.

2. The MITI Minister assures us that we can get out of the agreement anytime we want.

3. Yes indeed we can. But it is not going to be easy and the cost would practically bankrupt us.

4. In the TPPA agreement companies can sue Government for loss of profit including future profit if Government action results in the loss.

5. In one case in a Latin American country, for reasons of massive pollution, the Government decided to stop the mining operation granted to an American company. The company then sued the Government for loss of profit, including future profit amounting to several billion US Dollars.

6. A decision to withdraw from the TPPA will obviously result in loss of profit and future profits by companies investing in Malaysia or trading with Malaysia.

7. The withdrawal will involve numerous companies and the purported loss will run into hundreds of billions. The court will not be ours where we can count on sympathy and concern for what will happen to our economy and finances. There is also no way we can pressure or bribe the courts. We will just have to pay the billions.

8. So please don’t talk about extricating ourselves from this treaty for controlling trade and investments called the TPPA. It is not for promoting free trade. It is entirely dedicated to regulating trade.

9. Against this perhaps we should remember that when we had entered into no such treaty we became the 17th biggest trading nation in the world. We were free to protect ourselves and to devise policies beneficial to all of us Malaysians. We grew fast at that time. We traded with whomever we liked.

10. I can say a lot of other things which are bad about the TPPA. But the Government wouldn’t care of course. The Government will do what it wants to do. Don’t ask why. You know what answer tou will get when you ask the Government any question.

Souce : chedet

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