Indonesia has expressed reticence towards joining the Trans-Pacific Partnership (TPP), as the next development meeting looms a month away. Other potential parties to the pact include Brunei, Chile, New Zealand, Singapore, the United States, Australia, Peru, Vietnam, Malaysia, Mexico and Canada.

Although the opportunity to open more trade with larger countries is typically a boon to smaller nations, some parties are unsure which way the benefits would flow with TPP. The agreement would come with strings attached such as submitting to the jurisdiction of councils that would regulate trade relations and mediate disputes between businesses.

"I've been saying to the people that we're not at the point of being able to ascertain whether or not the TPP will be beneficial to Indonesia," remarked Indonesia Trade Minister Gita Wirjawan. Complicating factors include the TPP's effect on existing pacts and partnerships in Southeast Asia.

The combined GDP of nations considering the pact tops $21 trillion, which is about 30 percent of total global product.

Perceived as a stepped-up version of NAFTA for the Pacific, the TPP delves into areas not normally covered by free trade agreements. Topics such as public tendering, labor, environmental issues and intellectual property are included, which makes some businesses fret over the impact of the deal.

Parties to the talks aim to conclude the agreement this year, but there are still issues to be worked out. It is hoped that the Singapore meeting in March will help move the negotiations forward.

Supporters of TPP say that the agreement would give Indonesia and other countries like it greater preferences in trade, and ultimately raise their GDP over the next decade.