GYEONGJU: The government thoroughly reviewed all risks to ensure national sovereignty and interests were protected before signing the Reciprocal Trade Agreement (ART) with the United States (US).
Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said the negotiations involved all relevant agencies and ministries before the decision was finalised at the Cabinet level.
“The negotiating team has examined all risks and aspects to ensure this is the best possible agreement for Malaysia.”
“In any negotiation, it cannot be one-sided; there are matters to concede and matters to defend.
“If there are issues we feel cannot be compromised, we maintain our stance. But if there is room for further negotiation, we negotiate to achieve the best outcome,” he said.
Tengku Zafrul was speaking to reporters during the Asia-Pacific Economic Cooperation (Apec) Economic Leaders’ Meeting here today.
He also said that the government is open to public input, but it must be fact-based and not politically motivated.
He added that more engagement sessions will be held to clarify the purpose and content of the agreement to the public, following ongoing confusion and misinterpretation.
“Some statements have been issued, but misunderstandings may occur. What’s important is that we continue to engage,” he said.
He added that the issue has also been politicised, clouding objective assessment of the agreement’s benefits for the country and its people.
Earlier in Parliament, Tengku Zafrul and Prime Minister Datuk Seri Anwar Ibrahim said national sovereignty and policies, including Bumiputera rights, were never compromised during the negotiations.
Malaysia has signed 19 free trade agreements (FTAs), including with the European Union, the United Arab Emirates, and a newly signed FTA with South Korea.
He said that experience also forms a key foundation for the current negotiations.
“The government will continue to provide explanations. What’s important is the benefit for the people,” he said.
Under the agreement, 1,711 Malaysian products will receive a 19 per cent US import tariff exemption.
At the US ART media briefing on Wednesday, Tengku Zafrul said Malaysia secured better commitments from the US through the agreement.
“Moreover, the US has offered better and more secure access to their market.
“So, in fact, what has been signed is better than what was previously announced,” he said.
The US is one of Malaysia’s largest trading partners and a key market for major exports.
“These include electrical and electronic goods, industrial equipment, aerospace components, certain agricultural products, and commodities,” he said.
Previously, US import tariffs for Malaysia had been reduced from 25 per cent to 19 per cent.
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