‘US will eventually return to negotiation table’
KUALA LUMPUR: The United States’ withdrawal from the Trans-Pacific Partnership (TPP) is akin to shooting oneself in the head, said a trade advocate.
Dr Deborah Elms said the US’ secret involving the deal was that the agreement was written for them by them with benefits in their favour.
She anticipated that the US would eventually return to the negotiation table and continue its role in the agreement.
“How and when, no one knows due to the political scenario,” Elms said on the sidelines of the 31st Asia-Pacific Roundtable here yesterday.
Following the election of Donald Trump as the US president, the US withdrew from TPP in January.
Elms, who is also Asian Trade Centre executive director, earlier spoke on a discussion panel titled “Wither Economic Cooperation in the Asia Pacific: More Ingredients for the Spaghetti Bowl?”
She said it would be beneficial for other countries involved in TPP to go ahead with the partnership without the US.
“US will be at the losing end because its companies are seeking access into these countries and their markets.”
On the One Belt, One Road initiative, Elms said it could be a useful plan to lift the bottlenecks in infrastructure faced in the region.
“This, however, depends what and where these infrastructure are built,” she said, adding that infrastructure that helped trade, such as roads and ports, would be good.