#stop tpp

On March 8, 11 Pacific Rim countries signed the CPTPP, which was revised after the US withdrew from the previous TPP agreement in January 2017.

The signatories are Singapore, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Vietnam. The CPTPP members welcomed interest from other economies wishing to join the trade bloc.

The pact is set to go into effect 60 days after at least six countries complete domestic approval procedures. Members are expected to speed up implementation of the pact this year.

The 11 CPTPP countries combined had US$10.2 trillion (319 trillion baht) in GDP in 2017, making up 13.5% of the global total.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) doesn’t add any benefits for the poor, terminally ill, women or even governments.Rising from the ashes of the Trans-Pacific Partnership Agreement (TPPA), which was tanked by US President Donald Trump, the new trade deal will instead have serious implications on Malaysia.

The CPTPP still requires the enforcement of patents, including on medication, that are significantly stronger than what the WTO’s TRIPS rules require (WTO-Plus). This would have adverse implications for access to medication.

This would also see the cost of life-saving medication skyrocket as a result of patent protections that safeguard the interests of large pharmaceutical companies at the expense of average Malaysian citizens.

Chances are it would face a suit from a multinational pharmaceutical, under the Investor State Dispute Settlement (ISDS), which would say the move takes a hit on its profits.

The former Barisan Nasional-led government made a mockery of women’s contributions to progress by signing the CPTPP on International Women’s Day last year.

This is despite the fact that the trade agreement would promote labour competition and women’s low wages as a source of competitive advantage for corporations, besides threatening their access to public services through the reduction of tariffs that deprive governments of important revenue.