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  • 3 months ago
Former economy minister Datuk Seri Rafizi Ramli has raised concerns over the recently signed US-Malaysia reciprocal trade agreement, saying the inclusion of an exit clause offers little real protection to Malaysia.

He said while Prime Minister Datuk Seri Anwar Ibrahim had noted that the agreement included an exit clause, “every agreement has one,” and that terminating such a deal would effectively amount to a breakdown in commercial and diplomatic relations.

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00:00Why have you recently explained about how our agreement in the US is not as good as the
00:06pneumonia in the US, right? But the PM said that we have exit clauses that help us in any way?
00:13Well, any agreement has an exit clause. The structure of the reciprocal tariff agreement
00:25is almost similar between US and ASEAN countries. So if you compare the clauses, the framework,
00:37whether it's Malaysia, whether it's Cambodia, whether it's Thailand, whether it's Vietnam,
00:42it has all those similar terms. But the devil is in the details. And the details and the commitment
00:52that Malaysia has given is very onerous in terms of how strong we have to follow as well as in terms
01:01of how much money we had committed. Okay, that's number one, right? Hence, you know, a lot of comments
01:09being given now. I mean, I didn't want to butt in initially. I trust the process and so on.
01:15But I have to do my job and I have to read. When I read and I compare, I am concerned. So of course,
01:22in any agreement like this, you can exit, you can terminate. Even US can terminate. But that's the
01:30problem. When you reach the point when you terminate an agreement like this, that means that it already
01:38reaches a point of breakdown in commercial and diplomatic relationship with US. Which means that
01:45for all intended purposes, no country is going to exit that agreement. So it's a blank check, almost like
01:55a blank check for the US. Now that it's written, they can basically demand one, two, three, four, five.
02:02It's up to them whether they want to press or not. You know, so if they press, say for example,
02:07if they press and we don't want to do it, obviously you can break, of course. You can terminate the
02:13agreement or they can say that you have breached the agreement. Therefore, we will punish you.
02:18But by that time, you know, it's basically it renders the whole discussion, negotiation useless. So that's
02:28why you want to make sure that the negotiation at least provides ample room for us from the very
02:35beginning. So if there is no comparable agreement with Cambodia, then I wouldn't say a thing.
02:40Masalahnya, you have to ask a question, how come Cambodia can actually negotiate a much better clause
02:48than us? Cambodia made it very clear, especially on 5.1 complementary action, that nothing can
02:55compel them that is against their national sovereignty. We don't have. Kita kena, you know, so basically
03:03now, we have signed an agreement that we have committed to doing certain things. If we don't want
03:09to do it, later down the road, of course, you ask, okay lah, you nak terminate, you terminate,
03:14but there are consequences to your termination. Likewise, if you don't do it, there are consequences
03:21to your not following what we do because you have signed. By that time, then, you know, it's
03:27like all these things about trying to maintain relationship, the dancing and so on, is water
03:32under the bridge lah. So that's why I wish that if we had to take longer time to sign
03:40it, perhaps we should have done that. Because after all, only Malaysia and Cambodia had signed
03:45it so far lah. Thailand had not signed it, Vietnam has not signed it, Thailand dengan Vietnam
03:52only has framework because you agree on the framework dulu and then you negotiate, you sign
03:57kan. Thailand dengan Vietnam only ada framework, Indonesia dengan Singapore, framework pun tak
04:04agree lagi. They are still negotiating. Of course, people will say that, oh, it's better
04:09for us to be there first and so on, but that's where the fine line is lah. If we are seen
04:14to be too eager to please to the point that we start having questionable terms, then, you know,
04:24it defeats the purpose of being there first, other than other people lah. I mean, wearing
04:30my thinking cap lah, I would betray my duty if I just ungo and say that it's all nice.
04:41There's a lot, you know. So, whether or not, you know, government responds to it, I don't
04:47think government will respond to it. Because it's water under the bridge, you dah sign, Trump
04:53dah datang dance. You think that Trump will accept, kalau Malaysia after this, two months
04:58down the line kata, or we think that it's a bad deal, we want to revise it. Or we think
05:03it's a bad deal, we want to terminate it. Canada, salah komen sikit je, dia dah naikkan
05:09tarif. So, most probably, what Malaysia has to do now is just swallow it. Which, that is
05:15why I think, as much as is water under the bridge, I think government needs to reflect
05:22that a lot of the concerns ni, is actually valid concern. Of course lah, you know, you may
05:30not like what opposition cakap, or the way they say it. They politicise it, cakap ini,
05:35perjanjian syaitan, and so on. I'm not interested in that. I'm actually interested in the actual
05:41details, and having gone through it bit by bit, I am concerned. There's not even any specific
05:49reference to national sovereignty of Malaysia. Sama juga contohnya, kekangan-kekangan. Contohnya,
05:56I can't remember clause 4, yang pasal nuklear. Itu saya bagi contoh. Ada satu clause yang
06:02mengatakan bahawa, kerajaan Malaysia akan mengadakan mekanisme untuk bekerjasama dengan
06:11US, if I'm not mistaken, untuk menyemak pelaburan-pelaburan yang masuk ke Malaysia, supaya dia tidak
06:19bertentangan dengan kepentingan security dan ekonomi US. Eh, does that mean that lepas ni,
06:26FDI nak masuk ni, kita kena follow US. Kata Huawei, saya tak suka. Yang ini Chinese company,
06:33saya tak nak bagi. So, you know, I mean, at face value, saya, I'm not privy to the what
06:40they discuss dalam kerajaan. Jawapan Tengku Zafrul kepada parlimen setakat ini is
06:47oversimplifying and just wash it, basically sweep under the carpet. Jawapan dia, jangan
06:53marah penjawat awam. Jawapan dia, benda ni kita tertekan sebab kita kena runding, kita
06:58kesuntukan masa, ini dah cukup baik. That's not good enough for us. Kan, so, so, I mean,
07:05I'm sorry kalau contohnya, nampaknya, kritikan saya itu juga, Tun Mahathir pun sebut yang
07:11sama, pembangkahan pun sebut yang sama. But I think, kalau you baca ekonomis dalam
07:16Bloomberg pun, pun sebut yang sama. Kalau tengok international review, semua kata is a very
07:22lopsided agreement. So, what I hope, my lending my voice to this issue, I hope
07:28government, jangan sweep under the carpet lah. Sebab people can read now. Dia boleh
07:32tengok kan, perjanjian demi perjanjian. Dan yang paling damning to us, bila kita
07:38compare dengan Cambodia or even Thailand.
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