Wong told a press conference today that he came to the conclusion after studying a cost-benefit analysis of the agreement by PricewaterhouseCoopers (PWC).

He said the analysis revealed that if the TPPA were signed, the trade balance projections would show a significant deterioration.

Even in the best case scenario presented by PWC, he added, Malaysia would see a maximum growth of only 1.15% in GDP and 0.9% in exports but suffer a 30% reduction in the balance of trade.

“Since the purpose of any trade agreement is to get a better trade balance outcome, the conclusion is that the PWC cost-benefit report does not support any significant macroeconomic justification for signing the TPPA. In fact, from an international trade balance perspective, it is worse.”

He claimed that since trade and economics were not the main drivers for the TPPA, then political and geopolitical considerations must be the prime motivating factors.

He said it would thus be the responsibility of Prime Minister Najib Razak and Foreign Minister Anifah Aman to respond to critics of the TPPA.

International Trade and Industry Minister Mustapa Mohamad should be given a break, he added.

“Why is Najib bending his back to hand over to the US our parliamentary and sovereign rights for a few lousy dollars and why is Najib so compliant to America’s Asian pivot, which does not benefit us economically?” Wong asked.

“Since politics is motivating this trade deal, I take the position that the TPPA should now be referred to Najib and the Foreign Minister to answer instead of Mustapa.”