Update PWC Report Before Ratifying CPTPP

MEDIA STATEMENT: UPDATE PWC REPORT BEFORE RATIFYING COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS-PACIFIC PARTNERSHIP Since the last press conference on the CPTPP on 27th Nov, I have continued to meet civil societies and academics on the same matter. I wish to reiterate my call that before the government makes a decision to ratify the CPTPP, that it should do an updated cost benefit study. I note that PwC had prepared a cost benefit TPP study in December 2015 and that the government should re-engage PwC to update the report for CPTPP, without factoring in the US economy. In addition, in view of the ongoing US China trade war, I would like the government to factor in what challenges or benefits for Malaysia from ratifying the CPTPP in this new protectionist trade environment. I ask the MITI minister to state whether he is agreeable to update the PwC study in view of the exit of the United States, hence the CPTPP and the US China trade war. I urge the new government to adhere to the basic principle of policy driven by data and information, and not neo liberal ideology. I also urge the government to do two further impact studies which were not covered under the original cost benefit study of the TPP. In particular, I request that a human rights impact assessment (HRIA) which was contemplated by SUHAKAM in 2016, and an environmental impact assessment (EIA) to be done for CPTPP. By conducting these impact assessments, the Pakatan Harapan government will have an opportunity to demonstrate that it is committed to best human rights and environmental practices. In this new Malaysia, we must walk the talk on human rights reforms and environmental protection and always put the interests of the people first before profits. Lastly, I would also like to see an update on the cost benefit economic study of CPTPP on the financial sector, government expenditure and the Bumiputera economy. YB Wong Chen Member of Parliament for Subang 6 December 2018